TRADING TIPS :
GBP/USD hit 1.4990 during European
morning trade, the pair’s lowest since January 30; the pair
subsequently consolidated at 1.5018, slipping 0.17%.U.K. construction
purchasing managers’ index increased to 59.1 last month from a
reading of 57.6 in December. Economists had expected the index to dip
to 57.0 in January.The data came a day after Markit said that its
U.K. manufacturing PMI rose to 53.0 last month from a reading of 52.5
in December. However, commenting on the report, Rob Dobson, senior
economist at survey compiler Markit, said that “at this rate, the
sector will provide little meaningful boost to the economy in the
first quarter. “Meanwhile, sentiment on the dollar remained
vulnerable after data on Monday showed that U.S. consumer spending
fell at the fastest rate since September 2009 in December, dropping
0.3% as households saved on cheaper gasoline prices.
INTRADAY
OUTLOOK
Support:
1.5037
Resistance:
1.5127
RECOMMENDATION:
1.
Buy GBP/USD Above 1.5129-TG: 1.5149/1.5179 SL 1.5099
2.
Sell GBP/USD Below 1.5035-TG: 1.5015/1.4985 SL 1.5065
INTRADAY
OUTLOOK
Immediate
Support: 1.1292
Immediate
Resistance: 1.1382
RECOMMENDATION:
1.
Buy EUR/USD Above -1.1384 TG: 1.1404/1.1434 SL 1.1354
2.
Sell EUR/USD Below -1.1290 TG:1.1270/1.1240 SL 1.1320
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