TRADING TIPS :
The pound rose against the U.S. dollar
on Thursday, pulling away from eight-month lows after data showed
that the U.K. trade deficit narrowed more-than-expected in January
and as sentiment on the greenback weakened ahead of U.S. economic
reports due later in the day. GBP/USD hit 1.5014 during European
morning trade, the session high; the pair subsequently consolidated
at 1.4984, gaining 0.39%.Cable was likely to find support at 1.4891,
Wednesday’s low and an eight-month low and resistance at 1.5099,
Wednesday’s high.In a report, the U.K. Office for National
Statistics said the country’s goods trade deficit narrowed to £8.41
billion in January from £9.93 billion in December, whose figure was
revised from a previously estimated deficit of £10.15 billion.
INTRADAY
OUTLOOK
Support:
1.4900
Resistance:
1.5040
RECOMMENDATION:
1.
Buy GBP/USD Above 1.5015-TG: 1.5035/1.5065 SL 1.4985
2.
Sell GBP/USD Below 1.4950-TG: 1.4930/1.4900 SL 1.4980
INTRADAY
OUTLOOK
Support:
1.0550
Resistance:
1.0670
RECOMMENDATION:
1.
Buy EUR/USD Above 1.0650-TG: 1.0670/1.0700 SL 1.0620
2.
Sell EUR/USD Below 1.0570-TG: 1.0550/1.0520 SL 1.0600
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