Sell GBPINR below 95.2; target of 94.6: Way2Wealth

Way2Wealth has come out with its report on currencies. According to the research firm, one can Sell GBPINR below 95.2; target of 94.6 with a stop loss of 95.51


As anticipated prices inched up higher in the past session and ended with a gain of 0.21%. Now we have a morning star candle formation on the daily chart which is a bullish reversal candlestick pattern. Sustainable rise above the 66.86 levels can trigger further upside in the pair

Pair tested the short-term rising trend line in the past session and ended around the same. Violation of the same can lead to panic selling in the counter. Looking at the negative diversion in the daily RSI and negative crossover it is most likely that prices will break the same.

EUR failed to rise up and shed some of its gains. In the past session it violated the recent swing low which indicates for bearish trend reversal. Daily RSI has rolled down to sell mode which can trigger further selling in the counter.

Currency: GBPINR
Action: Sell below
Entry: 95.2
Target: 94.6
Stop Loss: 95.51
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