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.
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
GBPINR Just broken the trend line.Sell with the sl 99.80 with the target of 98.30
If breaks and stays below 98.30 then it may go below 200 ma.
Target and sl explained in the chart.Trade with your own risk.Happy trading.
Jpyinr and Usdinr.
After a retracement to 93 and then drop below today's low 91.90.
1. Rsi divergence
2. Price closing lower low
3. Price following a downward slope parallel channel
4. There's a 50 and 618% retracement at 93.00