TRADING
TIPS :
GBP/USD hit 1.5878 during European
morning trade, the pair’s lowest since November 2013; the pair
subsequently consolidated at 1.5901, dipping 0.01%. Cable was likely
to find support at 1.5852 and resistance at 1.6103, Tuesday’s
high.Meanwhile, market sentiment remained under pressure amid growing
concerns over the outlook for growth in the euro zone after data on
Tuesday showed that the bloc’s industrial production declined more
than expected in August, while July’s figure was revised down.A
separate report showed that German economic sentiment deteriorated to
the lowest level since December 2012 in October, fuelling further
concerns over the euro zone’s largest economy.
INTRADAY
OUTLOOK
Support:1.5870
Resistance:
1.5923
RECOMMENDATION:
1.
Buy GBP/USD Above 1.5925-TG:1.5945/1.5975 SL 1.5805
2.
Sell GBP/USD Below 1.5868-TG:1.5848/1.5818 SL 1.5898
INTRADAY
OUTLOOK
Immediate
Support:106.60
Immediate
Resistance: 107.18
RECOMMENDATION:
1.
Buy USD/JPY Above 107.20-TG:107.40/107.70 SL 106.90
2.
Sell USD/JPY Below 106.58-TG:106.38/106.08 SL 106.88
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