GBPINR Finds Good Support At 104.40 Levels

Published on Nov 24, 2023 11:55

The front month GBPINR futures contract on NSE finds good support at 104.40 levels following a sharp spike above 104.60 mark in the previous session. The pair is currently trading in negative terrain at 104.51, down 0.05% on the day after a gap down opening. GBPUSD is holding near two-month high of $1.2569 attained in the previous session during the Asian hours on Friday. Weakness in dollar coupled with positive UK data is seen supporting the pound. The pair is quoting at $1.2542, up 0.4% on the day. GfK Consumer Confidence indicator in the United Kingdom improved slightly to -24 in November 2023 from -30 in October and above expectations for -28. Meanwhile, yesterday PMI�s suggested a turnaround in UK services activity into expansion is also supporting the currency.