The British Pound to Indian Rupee (GBP/INR) pair is under significant pressure, trading at 105.47, just above a critical support level of 104.50. After a sharp sell-off in recent weeks, the pair has failed to reclaim the 106.08 pivots, signalling a bearish tone in the short term.
The Indian Rupee’s resilience has been bolstered by strong foreign inflows and positive macroeconomic data from India, further weighing on the Pound.
Traders should monitor daily candlestick patterns around these levels for potential reversal or breakout signals.
A break below 105.00 could accelerate selling pressure, targeting the 104.50 level or lower.
A rebound above 106.08 would be the first signal of potential bullish recovery, but upside is capped at 107.74.
The GBP/INR chart is teetering on the edge of drama, with the 105.00 level playing the role of the bold protagonist. Will it hold strong like a hero, or will it crumble under pressure, unleashing a flood of bearish sentiment? If the bears break through, the pair could dive toward 104.50—cue the dramatic soundtrack.
On the flip side, the bulls aren’t out of the game yet. A breakout above 106.08 could spark a comeback story, with resistance levels at 107.74 and 108.58 waiting in the wings for their curtain call. It’s a tug-of-war with plenty of twists ahead—watch closely because this is one market plotline you don’t want to miss!
This post was last modified on Jan 15, 2025, 09:36 GMT 09:36