TRADING
TIPS :
GBP/USD hit highs of 1.5661, the most
since December 22, up from around 1.5576 ahead of the report. The
pound rose to five-month highs against the dollar on Tuesday after
data showing that U.K. industrial output grew at the fastest rate in
six months in March, easing concerns that the rate of economic growth
is moderating. The Office for National Statistics said industrial
out- put rose 0.5% in March, the strongest increase since September
and ahead of economists’ forecast for an unchanged reading after a
0.1% rise in February. The increase was mainly due to a pick-up in
oil and gas activity as oil and gas extraction rose at its fastest
rate since February 2014. For the first quarter as a whole,
industrial output rose by 0.1%, compared to forecast for a 0.1%
decline.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5710 TARGET 1.5730 1.5760 SL 1.5680
SELL
GBPUSD BELOW 1.5635 TARGET 1.5615 1.5585 SL 1.5665
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1290 TARGET 1.1310 1.1340 SL 1.1260
SELL
EURUSD BELOW 1.1200 TARGET 1.1180 1.1150 SL 1.1230
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