Kshitij Consultancy Services
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Morning Briefing Pound (1.3981) is pausing in its downmove towards crucial long term support level near 1.385 on weekly line chart. However, we expect it to test this level by next week possibly. If this support also breaks, Pound could turn very bearish in the medium term. However, our preference is for it to hold, in which case, we could see a rally towards long term resistance level of 1.46 in the weeks ahead.
Month Open High Low Close
Dec-17 1.35235 1.35498 1.33017 1.35029
Jan-18 1.351 1.43455 1.34584 1.41874
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