TRADING
TIPS :
The
pound was slightly lower against the dollar on Monday after data
showing that activity in the U.K. manufacturing sector ticked higher
last month but remained relatively subdued. Research group Markit
said its U.K. manufacturing purchasing managers’ index ticked up to
51.9 last month from 51.4 in June, which was the lowest level in over
two years. Economists had expected a reading of 51.6. GBP/USD eased
0.04% to 1.5620 following the report from around 1.5618 earlier. The
rate of growth in new orders slowed to a ten-month low Market said,
as solid demand from the domestic market contrasted with a further
decrease in new export business.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5640 TARGET 1.5660 1.5690 SL 1.5610
SELL
GBPUSD BELOW 1.5570 TARGET 1.5550 1.5520 SL 1.5600
RECOMMENDATION:
BUY EURUSD ABOVE
1.0972 TARGET 1.0992 1.1022 SL 1.0942
SELL EURUSD BELOW
1.0935 TARGET 1.0915 1.0885 SL 1.0965
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