GBPINR at the resistance of symmetrical triangle wait breakoutGBPINR the pair has lost almost 15% value since brexit and has been under pressure, the pair is now looking strong and gradually trading higher high, it is trading on symmetrical triangle resistance and there may be breakout at this point. traders may enter long in this pair if breakout 84.90 with a target of 86.35 in near term or if breakout doesn't occurs it will again go downward to its support 83.00.
INRGBP trade ideas
GBPINR- Good times ahead from 79-81 zoneWell 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.
Regards,
Abhishek H. Singh, CMT