GBPINR has consolidated a bit after the fall. A pullback was seen and the support perfectly became the new resistance.
Now a fresh short position below the trend line for the targets as mentioned along with stoploss.
After a whole 1 year from march 2020 to april 2021 , the currency pair EURGBP has shown a corrective structure of three waves , Wave- a , wave-b as a triangular wave, and wave- c of impulse decline. The weekly price action suggests that there is quite bullish reversal chances from the recent bottoms. The evidence can be considered with the help of Bullish...
The chart seems to form a perfect M top with a clear diversion and as per the Steve Mauro setup it is expected to continue the bearish trend. GBPINR broke its trading range to make its new high and it is bound to be intervened as per fundamentals.
This is my additional view for GBPINR, checkout my initial call from 99 levels which also running.
A Single Day Close Above 103.41
& We'll See GBPINR Above 107
Strict SL - 99.2 (WCB)
Risk Reward - 1:1, 1:1.5