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Published on 16/05/2019 11:47:02 AM | Source: Reliance Securities Ltd

GBPINR trend is bearish and break below 89.50 will take prices towards 87.50 level - Reliance Securities

Posted in Currency Report| #Currency Tips #Reliance Securities Ltd

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GBPINR was trending higher from last few sessions however in last 2 sessions prices have taken resistance near 92 level and has reversed on downside.

Also the upside momentum was not strong and it was only drifting higher. Medium term trend still remains on downside as long as 92.00 is intact on upside.

It failed to sustain above 100 days of EMA which is negative sign. The distance between the MACD and Signal line is not increasing which is suggesting that momentum is weak on upside.

In short, GBPINR trend is bearish and break below 89.50 will take prices towards 87.50 levels.

 

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