TRADING TIPS :
GBP/USD hit 1.5192 during European
morning trade, the session high; the pair subsequently consolidated
at 1.5162.Data showed that the Markit/CIPS Services Purchasing
Managers Index increased to 57.2 last month from a reading of 55.8 in
December. Analysts had expected the index to rise to 56.3 in
January.Commenting on the report, Chris Williamson, Chief Economist
at survey compilers Markit said, “The January PMI surveys signalled
a reassuringly robust start to the year for the UK economy,
indicating a quarterly rate of GDP growth just over 0.5%.”The
report came one day after Markit and the Chartered Institute of
Purchasing & Supply said that their U.K. construction PMI
increased to 59.1 last month from a reading of 57.6 in December.
INTRADAY
OUTLOOK
Support:
1.5136
Resistance:
1.5225
RECOMMENDATION:
1.
Buy GBP/USD Above 1.5227-TG: 1.5257/1.5287 SL 1.5197
2.
Sell GBP/USD Below 1.5134-TG: 1.5114/1.5084 SL 1.5164
INTRADAY
OUTLOOK
Immediate
Support: 1.1418
Immediate
Resistance: 1.1492
RECOMMENDATION:
1.
Buy EUR/USD Above -1.1494 TG: 1.1514/1.1544 SL 1.1464
2.
Sell EUR/USD Below -1.1416 TG:1.1396/1.1366 SL 1.1446
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