TRADING TIPS :
GBP/USD hit 1.5548 during European
morning trade, the session high; the pair subsequently consolidated
at 1.5535, adding 0.08%. Cable was likely to find support at 1.5484,
the low of December 23 and a 16-month low and resistance at 1.5667,
the high of December 22.The dollar remained broadly supported after
final data last week showed that U.S. gross domestic product rose
5.0% in the third quarter, exceeding expectations for a growth rate
of 4.3% and up from 3.9% in the three months to June.The strong data
fuelled further optimism over the strength of the U.S. economic
recovery and added to expectations for the Federal Reserve to raise
interest rates next year. Year-on-year, U.K. house prices rose 7.2%
in December, below expectations for a 7.5% gain, after an increase of
8.5% the previous month.
INTRADAY
OUTLOOK
Support:
1.5518
Resistance:
1.5567
RECOMMENDATION:
1.
Buy GBP/USD Above 1.5570-TG:1.1.5590/1.5620 SL 1.5540
2.
Sell GBP/USD Below 1.5515-TG:1.1.5495/1.5465 SL 1.5545
INTRADAY
OUTLOOK
Immediate
Support: 1.2138
Immediate
Resistance: 1.2183
RECOMMENDATION:
1.
Buy EUR/USD Above 1.2185-TG:1.2205/1.2235 SL 1.2155
2.
Sell EUR/USD Below 1.2135-TG:1.2115/1.2085 SL 1.2165
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