TRADING TIPS :
GBP/USD hit 1.5144 during European
morning trade, the pair’s lowest since January 8; the pair
subsequently consolidated at 0.7656, rising 0.28%.Cable was likely to
find support at 1.5032, the low of January 8 and an 18- month low and
resistance at 1.5236, the high of January 16.The dollar remained
broadly supported after the Swiss National Bank shocked markets last
Thursday by abandoning its three-year old 1.20 per euro exchange rate
cap. Meanwhile, sentiment on the pound remained vulnerable after data
last week showed that the annual rate of consumer inflation in the
U.K. slowed to 0.5% last month from 1.0% in November. The slowdown in
inflation underlined expectations that the Bank of England will keep
interest rates on hold at record lows for most of this year.
INTRADAY
OUTLOOK
Support:
1.5117
Resistance:
1.5172
RECOMMENDATION:
1.
Buy GBP/USD Above 1.5175-TG: 1.5195/1.5225 SL 1.5145
2.
Sell GBP/USD Below 1.5114-TG: 1.5094/1.5064 SL 1.5144
INTRADAY
OUTLOOK
Immediate
Support: 1.1566
Immediate
Resistance: 1.1620
RECOMMENDATION:
1.
Buy EUR/USD Above -1.1622 TG: 1.1642/1.1672 SL 1.1592
2.
Sell EUR/USD Below -1.1564 TG:1.1544/1.1514 SL 1.1594
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