POUND rupee Future Chart Analysis
Pound rupee future of February expiry on last trading session closed at 91.54 with gain. In this week pound was down for 2 days and up for 3 day. Pound after hitting 94.5 high, hit by profit booking and given breakdown below 92.15. Below 92.15 pound will remain weak but currently trading in oversold state so expect bounce back towards 92.15 levels from here. Below 92.15, pound rupee future has support around 89.8 and that will be target zone if downtrend continues here.
Pound rupee future weekly chart analysis
Pound rupee future on weekly chart showing loss for this week. This was 3rd losing week for pound after last 3 week’s big rally. This week we saw almost 1.5 rupee movement in pound and pound is correcting after big recovery from low of 88.5 to highs of almost 94.5 rupees. On weekly chart pound is in long term uptrend and above 91.25 will remain buy and accumulate for 2019 and on upside my investment targets are 96.5 and then 104 rupees. We already saw high near 94.5.
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