Pound rupee future daily chart technical analysis
Pound rupee future of January expiry on last trading session closed at 89.16 with loss. Pound is in absolute downtrend against rupee and heading lower and lower in oversold zone suggesting underlying strong selling. For month of January, pound below 89.6 rupee level resistance remain weak and sell on rise and targets for this months will be around 87.9 and then 86.7. But daily chart indicators are oversold but mixed so keep tailing stop loss for short positions and expect lower targets. If pound gives reversal and breakout above 89.6 then expect 90.8 and then possibly 92.5 rupee levels on buying as well as short coverings.
Pound rupee future weekly chart technical analysis
Pound rupee future on weekly chart showing gains for this week. This was first gaining week for pound after last week’s sell off. On weekly chart also pound is in bearish trend against rupee but deeply oversold on chart. For year 2019, pound below 91.3 on weekly closing basis will remain weak and sell. On downside 84 and then 78.5 rupees are long term support levels and target zones if downtrend continues. Pound if breaks above 91.3 o weekly closing basis then expect 96.6 and then record high of 104 rupee plus in longer terms.
Pound rupee future monthly chart technical analysis
Pound rupee future on monthly chart showing gains for month of December. This was first gaining month for pound and in this month pounds range was 88 to 91+. After strong fall in October and November we saw some value buying as well as short coverings from the lows. On monthly chart 88.5 low will remain most important level while on upside 95 and 98 as strong hurdles to watch.
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