Commentary: GBPINR 4h time frame. bear flag got reject and brokeout to upside. facing strong resistance zone at 85.1537. following weekly time frame gbpinr formed h&s and still remain in bear trend.
Upcoming week thought process: gbpinr is in bear trend and gave a pullback facing 85.1537 strong resistance following another resistance at 86.6605. projecting prediction it might form an inverse h&s on the 4h time frame or it might get rejected from current resistnce level. all we can gaug watching rsi level, we have to look for bear or bull divergence at overbought/sell zone. wait for a price consolidation and breakeout from that white box either side targeting upside 86, 86.6605 and dowinside 84.20, 82.50.
I'll keep updating throughtout the week as price react.
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GBPINR did brokeout it's first resistance 85.1537 and heading towards another major resistance whic happen to be inverse H&S if price respected.
If you're wondering why Indian currency pairs sinking suddenly with huge momentum. check out Indian equity market there's disaster happening maybe recession near soon.
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Hi, I just published a new idea on USDINR do check.
I'm seeing a new high above all INR pairs in 2019. it will be like disasterous move with or without clue be prepared. fundamental on the other hand but technical saying everything.