On 11 January (Premium Research Report), it was already forecasted that GBPUSD prices will touch 1.3000 & 1.3100 levels. As we noticed that overall trend is up of this currency pair, here Pound is standing on the previous mentioned target and likely to take correction from initial levels then might take some rebound to upside.
At this point of time, GBPUSD is trading at around 1.3150 where the pair might take resistance of Simple moving average with a reading of 200 days. It is noticed that pair is currently trading close to its strong Trend line (Blue line) resistance. Earlier the Trend line acted well as a strong resistance. 1.3000 levels can be seen downside as a small correction, after that price might look forward to touch 1.3500 Mark.
Stochastic indicator is in overbought territory which is indicating that the recent rally is likely to take a break. The indicator is signaling a good opportunity to take position at dip. On the other hand, Relative Strength Index of 14 day is at 66 which is near to its overbought zone.
Date : Jan-2019
22 Apr 2019 06:20 PM
On the daily chart - it is found that the prices have finally broke down the converged
18 Apr 2019 06:45 PM
After posting superlative gains in March, due to resurgent FII inflows, rupee has been range-bound
16 Apr 2019 06:10 PM
With a look at Silver chart shows that price action took resistance at $14.92 levels in July’18, October’18
15 Apr 2019 05:46 PM
A look at the daily chart is showing that USDINR is trading in between the range of a downward sloping trend channel
12 Apr 2019 06:53 PM
Indian exporters are a worried lot these days. USDINR around 69, EURINR at 78 and GBPINR near 90-91
11 Apr 2019 06:26 PM