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Dealmoney - Commodity Daily - 16-Mar-20	Download pdf

GBPINR

GBPINR has broken from an upward sloping channel, along with support of 92 which imply bearish bias for the price. Price are trading below the 50 day EMA, having the immediate resistance of 92.50 & the immediate support of 90.80, followed by 90.30 (200 EMA). The momentum indicator RSI at 40, suggesting bearish bias for the price. Thus with the above analysis, we suggest sell on rise for Pound to trade around 92.50 with a protective stop loss of 93.50 with the target of 90.80 & 90.30 .