TRADING
TIPS :
GBP/USD hit 1.6044 during European
morning trade, the pair’s lowest since Wednesday; the pair
subsequently consolidated at 1.6058, sliding 0.37%.Cable was likely
to find support at 1.6023, the low of October 7 and resistance at
1.6227, Thursday’s high.In a report, the U.K. Office for National
Statistics said the trade deficit narrowed to £9.10 billion in
August from £10.41 billion in July, whose figure was revised from a
previously estimated deficit of £10.19 billion. Analysts had
expected the trade deficit to narrow to £9.60 billion in August.The
data came a day after the Bank of England voted to keep interest
rates on hold at 0.5% and to keep the size of its asset purchase
program unchanged at £375 billion.
INTRADAY
OUTLOOK
Support:1.6050
Resistance:
1.6122
RECOMMENDATION:
1.
Buy GBP/USD Above 1.6124-TG:1.6144/1.6174 SL 1.6094
2.
Sell GBP/USD Below 1.6048-TG:1.6028/1.5998 SL 1.6078
INTRADAY
OUTLOOK
Immediate
Support:107.55
Immediate
Resistance: 107.96
RECOMMENDATION:
1.
Buy USD/JPY Above 107.98-TG:108.18/108.48 SL 107.68
2.
Sell USD/JPY Below 107.53-TG:107.33/106.03 SL 107.83
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