Pound vs. Indian Rupee Rate's Forecast for the Week Ahead GBP to INR

Gbp to Inr

GBP/INR has hit a significant chart level which could break its run higher, although for now it is continuing to rise as UK data surprises to the upside at the start of the week.

The Pound-to-Rupee exchange rate has been rising steadily in a channel since the April '17 lows but has now reached a 'glass ceiling' which could make further progress difficult.

The level in question (circled) is at the 2015 historic lows at 91.00.

Major lows or highs often attract extra buying or selling, and the 91.00 level will probably attract additional sellers looking to fade the uptrend mostly for short-term gains.

It is not just the historic lows which are likely to present an obstacle, the 50-month moving average and the 200-week moving averages (MAs) not far above, at 92.96 and 92.26 respectively, are also likely to present significant hurdles to further upside.

Major moving averages are nodes of liquidity where a greater-than-average volume of buying and selling takes place. This is due to many investors  - both institutional and private - using MAs to make investment decisions, e.g 'buy above the MA and sell below'.

There is also greater trading from short-term technical traders who often use MAs as places to fade the dominant trend and profit from the surrounding volatility.

Despite all the obstacles the pair remains in an uptrend (ever since the April lows), and since there is insufficient evidence to suggest it is reversing, the probabilities favour a continuation higher for now, albeit with the proviso that all the aforesaid resistance could change things.

We would, therefore, want to see a clearance above all the aforesaid resistance first before forecasting more upside. Such confirmation would come from a break above the 94.00 level with an initial target at 95.00.

Get up to 5% more foreign exchange by using a specialist provider to get closer to the real market rate and avoid the gaping spreads charged by your bank when providing currency. Learn more here.

Data and Events to Watch for the Rupee

The main data release for the Rupee in the week ahead has already been released this morning, the Nikkei Services PMI, which showed a decline to 47.8 in February from 51.7 in the previous month.

It was a significant result as it was the first contraction since November 2017, and because a result below 50 is indicative of contraction for the whole sector rather than expansion (over 50). 

PMI is short for 'Purchasing Manager Index' which is a gauge calculated based on survey answers from purchasing managers in companies in the specific sector of the economy in question. 

The survey questions cover areas such as new orders, employment, activity, and prices. PMIs are considered important leading indicators for the economy.

The result is negative and combined with the higher-than-expected UK Services PMI result which was also released today, is probably the cause of GBP/INR's recovery to 89.99 from its early morning 89.50 lows.

Data and Events to Watch for the Pound

UK Services PMI data was also released this morning and came out at a higher-than-expected 54.5 from 53.0 previously. This helped Sterling rise across the board as it indicated the UK economy's largest sector was in fine health.

As far as major economic events for the Pound in the week ahead of principle interest is a speech from the Chancellor Philip Hammond on Brexit, which focuses on a bespoke deal for the UK's dominant services sector.

The UK has a services sector trade surplus with Europe so this could be important for the Pound, however, whether Hammond's proposals are likely to be accepted by Brussels is a different matter.

Other key releases include the trade balance in January, which is forecast to show the deficit narrowing to -12.2bn from -13.6bn previously, when it is released at 09.30 GMT on Friday.

Industrial production is out at the same time and is forecast to show a 1.1% rise month-on-month in January.

Manufacturing production, also out at 09.30 on Friday, is forecast to rise by 0.2% in January compared to the previous month.

Get up to 5% more foreign exchange by using a specialist provider to get closer to the real market rate and avoid the gaping spreads charged by your bank when providing currency. 

gbp to inr forecast
gbp to inr rate
gbp to inr conversion
gbp to inr icici
gbp to inr lycaremit
gbp to inr remitly
gbp to inr news
gbp to inr transferwise
gbp to inr sbi
gbp to inr lebara
gbp to inr
gbp to inr today
gbp to inr exchange rate
gbp to inr alert
gbp to inr axis bank
gbp to inr axisremit
gbp to inr as on 31st march 2017
gbp to inr average rate
gbp to inr august 2017
gbp to inr as on 30th september 2017
gbp to inr as on 31st december 2017
gbp to inr all time high
gbp to inr as on 31st march 2015
gbp to inr best rate
gbp to inr bloomberg
gbp to inr buying rate
gbp to inr bob
gbp to inr bank rate
gbp to inr bfc exchange
gbp to inr by date
gbp to inr barclays
gbp to inr bbc
gbp to inr icici bank
gbp to inr chart
gbp to inr conversion forecast
gbp to inr conversion history
gbp to inr comparison
gbp to inr conversion charges
gbp to inr conversion rate sbi
gbp to inr coinmill
gbp to inr conversion in bangalore
gbp to inr canara bank
gbp to inr dec 2017
gbp to inr december 2017
gbp to inr date wise
gbp to inr daily forecast
gbp to inr dec 2014
gbp to inr december 2014
gbp to inr day chart
gbp to inr delhi
gbp to inr december 2015
gbp to inr historical data
gbp to inr exchange rate today
gbp to inr exchange rate forecast
gbp to inr exchange
gbp to inr exchange rate history
gbp to inr exchange rate icici
gbp to inr exchange rate comparison
gbp to inr exchange rate hsbc bank
gbp to inr exchange rate western union
gbp to inr exchange rate transferwise
gbp to inr forecast xe
gbp to inr forecast december 2017
gbp to inr forecast 2020
gbp to inr forecast for tomorrow
gbp to inr feb 2017
gbp to inr forex forecast
gbp to inr forecast latest news
gbp to inr forecast january 2018
gbp to inr forecast news
gbp to inr graph
gbp to inr google
gbp to inr google finance
gbp to inr graph 2014
gbp to inr graph yahoo
gbp to inr graph 2013
gbp to inr going down
gbp into inr graph
gbp to inr history
gbp to inr hsbc
gbp to inr hsbc uk
gbp to inr hdfc bank
gbp to inr history graph
gbp to inr history 2016
gbp to inr hdfc
gbp to inr highest ever
gbp to inr history 2014
gbp to inr in march 2017
gbp to inr investing
gbp to inr in 2000
gbp to inr in 1990
gbp to inr in 2016
gbp to inr in 2015
gbp to inr in march 2018
gbp to inr in 2020
gbp to inr in december 2016
i gbp to inr forecast
i gbp to inr history
i gbp in inr today
gbp to inr jan 2018
gbp to inr july 2017
gbp to inr jan 2017
gbp to inr june 2017
gbp to inr june 2016
gbp to inr jan 2015
gbp to inr june 2015
gbp to inr jan 2016
gbp to inr january 2015
gbp to inr june 2014
gbp to inr kotak mahindra
gbp to inr kotak
20k gbp to inr
gbp to inr live
gbp to inr live rate
gbp to inr last 10 days
gbp to inr latest news
gbp to inr live chart
gbp to inr last 10 years
gbp to inr live streaming chart
gbp to inr last 5 years
gbp to inr money transfer
gbp to inr monthly chart
gbp to inr moneygram
gbp to inr moneycontrol
gbp to inr maximum
gbp to inr march 2017
gbp to inr money2india
gbp to inr monthly average
gbp to inr muthoot
gbp to inr march 2015
gbp to inr now
gbp to inr nov 2017
gbp to inr news today
gbp to inr nse
gbp to inr november 2015
gbp to inr november 2014
gbp to inr new delhi
gbp to inr forecast november 2014
gbp to inr today now
gbp in inr
gbp to inr oanda
gbp to inr on 31st march 2017
gbp to inr online converter
gbp to inr outlook
gbp to inr october 2017
gbp to inr on 1st november 2017
gbp to inr on 30th september 2017
gbp to inr on 12 jan 2018
gbp to inr on 31st december 2017
gbp to inr on 31st march 2015
conversion of gbp to inr
forecast of gbp to inr
prediction of gbp to inr
trend of gbp to inr
history of gbp to inr
future of gbp to inr
future trend of gbp to inr
current price of gbp to inr
selling rate of gbp to inr
gbp to inr prediction
gbp to inr pnb
gbp to inr post office
gbp to inr predictions 2018
gbp to inr predictions 2017
gbp to inr paypal
gbp to inr price chart
gbp to inr prediction after brexit
gbp to inr prediction 2016
gbp to inr prediction 2015
gbp inr quote investing.com
gbp to inr rate today
gbp to inr remit
gbp to inr rate forecast
gbp to inr rate history
gbp to inr rate chart
gbp to inr rate trend
gbp to inr remit to india
gbp to inr remittance comparison
gbp to inr sbi remit
gbp to inr selling rate
gbp to inr sell
gbp to inr spot rate
gbp to inr september 2017
gbp to inr support
gbp to inr selling rate today
gbp to inr statistics
gbp to inr symbol
gbp to inr transfer
gbp to inr trend
gbp to inr transfer rate
gbp to inr tomorrow
gbp to inr today's rate
gbp to inr thomas cook
gbp to inr travelex
gbp to inr technical analysis
gbp to inr uk investing
gbp to inr uae exchange rate
gbp to inr usd
gbp to inr updates
gbp to inr western union
gbp to inr sbi uk
gbp to inr western union rate
gbp to inr icici uk
gbp to inr value
current gbp to inr value
gbp inr view
gbp vs inr
gbp vs inr forecast
gbp vs inr future trend
gbp vs inr forecast 2015
gbp vs inr history
gbp vs inr forecast 2016
gbp vs inr investing.com
gbp v inr
gbp v inr exchange rate
gbp v inr forecast
gbp v inr chart
gbp v inr yahoo
gbp to inr worldremit
gbp to inr weekly chart
gbp to inr weekly forecast
gbp to inr will it increase
gbp to inr wu
gbp to inr next week
gbp to inr in words
gbp to inr xe
gbp to inr xendpay
gbp to inr xe chart
gbp to inr xrates
gbp to inr xoom
xendpay gbp to inr rate
xe conversion gbp to inr
x rates gbp to inr
gbp x inr
gbp to inr yesterday
gbp to inr yahoo
gbp to inr yesterday rate
gbp to inr yearly average
gbp to inr yahoo india
gbp to inr yahoo chart
gbp to inr yahoo history
0 gbp to inr
50 000 gbp to inr
gbp to inr 10 years
gbp to inr 1947
gbp to inr 1 week
gbp to inr last 15 days
gbp to inr in 1980
gbp to inr in 1995
gbp to inr in 1950
gbp to inr last 12 months
1 gbp to inr today
1 gbp to inr forecast
1 gbp to inr transferwise
1 gbp to inr icici
1 gbp to inr sbi
1 gbp to inr remitly
1 gbp to inr hsbc
1 gbp to inr last 10 days
1 gbp to inr history
1 gbp to inr lebara
gbp to inr 2017
gbp to inr 2018
gbp to inr 2015
gbp to inr 2014
gbp to inr 2012
gbp to inr 2013
gbp to inr 2011
gbp to inr 2015 forecast
gbp to inr 2008
gbp to inr 2010
2 crore inr to gbp
2 lakhs inr to gbp
gbp to inr 31 march 2017
gbp to inr 31 december 2017
gbp to inr 31 october 2017
gbp to inr 31 march 2015
gbp to inr 31 march 2014
gbp to inr 31st march 2015
gbp to inr 31 march 2013
gbp to inr last 3 months
gbp to inr on 31st march 2016
gbp to inr on 31st december 2015
3 lakh inr to gbp
400 gbp to inr
4000 gbp to inr
40 gbp to inr
40000 gbp to inr
450 gbp to inr
45 gbp to inr
4500 gbp to inr
45000 gbp to inr
46 gbp to inr
480 gbp to inr
gbp to inr on 5th august 2015
gbp to inr on 5th may 2015
gbp inr 52 week high low
500 gbp to inr
5000 gbp to inr
50 gbp to inr
50000 gbp to inr
5500 gbp to inr
539 gbp to inr
5 crore inr to gbp
gbp to inr last 6 months
600 gbp to inr
6500 gbp to inr
6000 gbp to inr
60000 gbp to inr
65 gbp to inr
6 gbp to inr
650 gbp to inr
60 gbp to inr
65000 gbp to inr
gbp to inr last 7 days
gbp to inr on 7th august 2015
70 gbp to inr
700 gbp to inr
7000 gbp to inr
7500 gbp to inr
75000 gbp to inr
750 gbp to inr
7800 gbp to inr
75 gbp to inr
gbp to inr on 8th jan 2016
800 gbp to inr
80 gbp to inr
85 gbp to inr
8000 gbp to inr
80000 gbp to inr
8500 gbp to inr
8 gbp to inr
8779 gbp to inr
gbp to inr on 9th march 2015
99 gbp to inr
90 gbp to inr
9500 gbp to inr
900 gbp to inr
9000 gbp to inr
9 gbp to inr

90000 gbp to inr

Pound vs. Indian Rupee Rate's Forecast for the Week Ahead GBP to INR https://t.co/qNZCorLXWJ

— Algobit Forex (@AlgobitForex) 6 marzo 2018