Well Pound Rupee has been beaten badly since brexit in June 2016. Its heading close to the prior swing low in the zone 79-81 -likely it could halt in that zone where it is retracing 61.8% of the rally from 64.76 lows to 105.69. An A-B-C correction is almost done, but not confirmed -we are looking for market to give us a confirmation which will be on firm foot once it crosses above 90 marks.
Once it starts moving above 90 marks- it will almost be clear that pound rupee wants to head upside.
Abhishek H. Singh, CMT