TRADING TIPS :
GBP/USD pulled away from 1.4796, the session low, to hit 1.4895 during European morning trade, still down 0.58%.Cable was likely to find support at 1.4721, Tuesday’s low and resistance at 1.5148, Wednesday’s high.The dollar regained some ground after broadly weakening when the Fed indicated on Wednesday that U.S. economic growth has moderated and that interest rates will rise at a slower pace than previously forecast .The pound trimmed losses against the U.S. dollar on Thursday, but remained under pressure as the greenback continued to recover from news U.S. interest rates will most likely remain on hold for longer than expected. The pound had dropped to nearly five-year lows against the greenback earlier Wednesday after the U.K. Office for National Statistics said that the rate of unemployment was unchanged at 5.7% in the three months to January,
INTRADAY OUTLOOK
Support: 1.4710
Resistance: 1.4770
RECOMMENDATION:
1. Buy GBP/USD Above 1.4772-TG: 1.4792/1.4822 SL 1.4742
2. Sell GBP/USD Below 1.4708-TG: 1.4688/1.4658 SL 1.4738
INTRADAY OUTLOOK
Support: 1.0670
Resistance: 1.0730
RECOMMENDATION:
1. Buy EUR/USD Above 1.0732-TG: 1.0752/1.0782 SL 1.0702
2. Sell EUR/USD Below 1.0668-TG: 1.0648/1.0618 SL 1.0698
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GBP/USD pulled away from 1.4796, the session low, to hit 1.4895 during European morning trade, still down 0.58%.Cable was likely to find support at 1.4721, Tuesday’s low and resistance at 1.5148, Wednesday’s high.The dollar regained some ground after broadly weakening when the Fed indicated on Wednesday that U.S. economic growth has moderated and that interest rates will rise at a slower pace than previously forecast .The pound trimmed losses against the U.S. dollar on Thursday, but remained under pressure as the greenback continued to recover from news U.S. interest rates will most likely remain on hold for longer than expected. The pound had dropped to nearly five-year lows against the greenback earlier Wednesday after the U.K. Office for National Statistics said that the rate of unemployment was unchanged at 5.7% in the three months to January,
INTRADAY OUTLOOK
Support: 1.4710
Resistance: 1.4770
RECOMMENDATION:
1. Buy GBP/USD Above 1.4772-TG: 1.4792/1.4822 SL 1.4742
2. Sell GBP/USD Below 1.4708-TG: 1.4688/1.4658 SL 1.4738
INTRADAY OUTLOOK
Support: 1.0670
Resistance: 1.0730
RECOMMENDATION:
1. Buy EUR/USD Above 1.0732-TG: 1.0752/1.0782 SL 1.0702
2. Sell EUR/USD Below 1.0668-TG: 1.0648/1.0618 SL 1.0698
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