TRADING
TIPS :
The British pound keeps pushing higher
versus the US dollar in the mid-European session, driving GBP/USD to
fresh session highs beyond 1.5700 levels, as the pound enjoys solid
gains from UK CPI numbers which backs the case for BOE rate lift-off
this year. The GBP/USD pair trades 0.80% higher at 1.5709, quickly
cooling-off fresh monthly highs reached at 1.5717. The bid tone
around the cable keeps increasing as the UK traders continue to cheer
improving price pressures in the UK which now heightens expectations
for BOE rate-hike. UK inflation accelerated 0.1% in July on a yearly
basis, compared to zero growth seen in the previous month. On a
monthly basis the reading dropped 0.2% from the previous month’s
0.0%. Core inflation, a less volatile measure stripped of energy and
food prices, soared above estimates to 1.2%, its highest rate in five
months.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5730 TARGET 1.5750 1.5780 SL 1.5700
SELL
GBPUSD BELOW 1.5560 TARGET 1.5540 1.5510 SL 1.5590
RECOMMENDATION:
BUY EURUSD ABOVE
1.1120 TARGET 1.1140 1.1170 SL 1.1090
SELL EURUSD BELOW
1.1010 TARGET 1.0990 1.0960 SL 1.1040
0 comments:
Post a Comment