Pound rupee weekly report for 19 to 23 august 2019
Pound Rupee future in this week closed at 86.66 with gain. Second Weekly gains and almost 1.2 rupee rally from the low. The pound is looking strong and heading higher and higher with intraday correction towards targets levels of 87.05. Above 87 expect a strong rally in pound and levels up to 90 Rupees. On downside 86.2 and 85.4 rupees are support zones for next week.
From long term view, the pound is in absolute downtrend and we saw major breakdown at 91.25 rupees level. On downside 83.7 and then 78.5 rupees were target zones. Pound achieved 83.7 rupees sell target for 2019. Now taken support at 83.7 and moving towards 91 rupees level.