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.
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.
Nota
Forgot to mention, Price at 92.44 there's a 200-day moving average support and still holding that level.Nota
GBPINR break to the upside. 97.77 will be the next resistance.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.