GBPINR In Big ConsolidationBuy GBPINR In Truckload
Cmp - 100.9885
Buy On Dips
SL - 93.2 (Monthly Closing Basis)
Target - 114/125
Gbpinrforcast
10 Year Breakout In GBPINR10 Year Breakout In GBPINR
Buy At Cmp 105.4855
SL - 103 ( Weekly Closing Basis )
Target - 113/117/125
GBPINR RangeboundGBPINR is showing rangebound. Range is 96 to 101. Anyone can make long or short position whenever GBPINR breaks the range of 101 or 96 as the case may be.
GBPINR at 19? a potential rounding top, use discretion!GBPINR is forming a rounding top pattern and with signs of distribution at the top a destruction is possible. Tentative date can be 1st Jan 2036
This is not a treading advise, use discretion!
GBPINR Additional ViewThis 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 30 mins. Bearish till 94.50 daily range level.
Reasons:
1. Lower low structure.
2 Pullback to previews price level 95.37
3. Daily closing range at 94.50
Gbpinr 4h. another similar idea related toJpyinr and Usdinr.
After a retracement to 93 and then drop below today's low 91.90.
Reasons:
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
It would be really interesting if GBPINR moves It would be really interesting if GBPINR moves in this parabolic circle. 93.59 is the zone to decide which way. 94.95 and 96.13 basically will be round up level.
There are two scenarios on GBPINR 4h time frame.High 97.7764 and low 86.0067 in between there's a huge margin gape. In the four-hour time frame, there's a small H&S formed. Price 94.7263 has been rejected to the upside. Keeping in mind last week's mid-price is 90.8238.
Conclusion: I'm looking for a price target 90.8238 as the downside and if price holds above 90.82 then possibly bullish again and 97.77 would look for price target.
Reasons:
1. 94.72 price rejected to the upside.
2. Bullish structure is broken.
3. There's a small H&S pattern formed in 4h time frame.
4. There's weekly mid-price available at 90.8238.
GBPINR rising wedge breakdown confirmed, selling to followThe 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.
GBPINR 4h time frame, weekly thought process.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.
