TRADING TIPS :
GBP/USD hit 1.5846 during European morning trade, the
session low; the pair subsequently consolidated at 1.5861, slipping
0.10%. The pound was lower against the U.S. dollar on Friday, despite
the release of positive U.K. public sector borrowing data, as the
previous session’s U.S. economic reports continued to support
demand for the greenback. Cable was likely to find support at 1.5622,
the low of June 17 and resistance at 1.5930, Thursday’s high and a
sevenmonth high. The Office for National Statistics reported on
Friday that U.K. public sector net borrowing hit £9.35 billion last
month, up from £5.46 billion in April, whose figure was revised from
a previously estimated £6.04 billion.
INTRADAY
OUTLOOK
Support:
1.5820
Resistance:1.5900
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5950 TARGET 1.5990 1.6040 SL 1.5900
SELL
GBPUSD BELOW 1.5780 TARGET 1.5740 1.5690 SL 1.5830
INTRADAY
OUTLOOK
Support:
1.1323
Resistance:
1.1400
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1470 TARGET 1.1510 1.1560 SL 1.1420
SELL
EURUSD BELOW 1.1265 TARGET 1.1225 1.1175 SL 1.1315
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