TRADING TIPS :
The pound slipped lower against the
U.S. dollar on Tuesday, as expectations for U.K. interest rates to
remain on hold for longer than expected continued to weigh, while
markets began to turn their focus to the Federal Reserve’s policy
statement on Wednesday. GBP/USD hit 1.4773 during European morning
trade, the session low; the pair subsequently consolidated at 1.4787,
shedding 0.28%.Cable was likely to find support at 1.4696, the low of
March 13 and a nearly five-year low and resistance at 1.4896, the
high of March 13. Market participants were eyeing Wednesday’s
Federal Reserve statement to see if it would drop its reference to
being patient before raising rates and signal that it is ready to
hike rates depending on economic data.
INTRADAY
OUTLOOK
Support:
1.4700
Resistance:
1.4850
RECOMMENDATION:
1.
Buy GBP/USD Above 1.4800-TG: 1.4820/1.4850 SL 1.4770
2.
Sell GBP/USD Below 1.4730-TG: 1.4710/1.4680 SL 1.4760
INTRADAY
OUTLOOK
Support:
1.0550
Resistance:
1.0680
RECOMMENDATION:
1.
Buy EUR/USD Above 1.0650-TG: 1.0670/1.0700 SL 1.0600
2.
Sell EUR/USD Below 1.0570-TG: 1.0550/1.0520 SL 1.0600
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