TRADING TIPS :
GBP/USD eased off 1.5030, the session
low, to hold steady at 1.5074 during European morning trade.The pound
found some support after market research group Markit said that its
U.K. manufacturing purchasing managers’ index rose to 53.0 last
month from a reading of 52.5 in December. Analysts had expected the
index to inch up to 52.6 in January.Commenting on the report, Rob
Dobson, senior economist at survey compiler Markit, said, “At this
rate, the sector will provide little meaningful boost to the economy
in the first quarter.”Markets were still jittery after Greece’s
new government said it will not cooperate with the International
Monetary Fund and the European Union and will not seek an extension
to its bailout program, underlining fears over a clash with its
international creditors. sentiment on the dollar remained vulnerable
after the Commerce Department said in a report on Friday that the
U.S. economy expanded 2.6% in the final three months of 2014, below
expectations for a 3.0% gain and slowing sharply from growth of 5.0%
in the three months to September.
INTRADAY
OUTLOOK
Support:
1.4987
Resistance:
1.5072
RECOMMENDATION:
1.
Buy GBP/USD Above 1.5074-TG: 1.5094/1.5124 SL 1.5044
2.
Sell GBP/USD Below 1.4985-TG: 1.4965/1.4935 SL 1.5015
INTRADAY
OUTLOOK
Immediate
Support: 1.1282
Immediate
Resistance: 1.1372
RECOMMENDATION:
1.
Buy EUR/USD Above -1.1374 TG: 1.1394/1.1424 SL 1.1344
2.
Sell EUR/USD Below -1.1280 TG:1.1260/1.1230 SL 1.1310
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