Get started
BRITISH POUND / INDIAN RUPEE
Short

GBPINR rising wedge breakdown confirmed, selling to follow

By forexnoobmaster007
Updated
The pair was moving in a steep rising wedge pattern from the past 1.5 months. GBPINR, in the previous session, gave a daily close below the lower trend line of the wedge pattern, confirming a breakdown. In doing so, the pair also breached crucial support of 21 days EMA (88.1609). Now, it is susceptible to heavy selling that can take the price to 86.5692. The stop loss for the trade will be slightly above yesterday’s high at 88.9253.
Trade closed: target reached
cheers!!!!
Chart PatternsGBPINRgbpinrforcastgbpinrthoughtprocessgbpinrtrendanalysisRising WedgeTrend AnalysisWave Analysiswedgepatterns
forexnoobmaster007

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.