TRADING
TIPS :
The British currency is seen picking up
pace gradually versus it’s American peer in the European afternoon,
as markets moved past the initial risk-off tone and now await fresh
updates from the upcoming US session. The GBP/USD pair trades 0.10%
higher at 1.5415, heading for a retest of 1.5437 session highs. The
GPB/USD pair keep pushing higher, bouncing-off a brief dip to lows
below 1.54 handle as a fresh bid wave seems to have caught the
British pound amid lack of fresh fundamentals from the GBP calendar
as the UK markets remain closed on summer bank holiday. Moreover, the
US dollar remains undermined as falling global equities continue to
weigh on the risk sentiment, thereby driving GBP/USD higher.
Meanwhile, markets now await US Chicago PMI data due to be released
later in the New York session, which will kick-off a data-heavy US
calendar for the week ahead.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5436 TARGET 1.5456 1.5486 SL 1.5406
SELL
GBPUSD BELOW 1.5340 TARGET 1.5320 1.5290 SL 1.5370
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5445 TARGET 1.5465 1.5495 SL 1.5415
SELL
GBPUSD BELOW 1.5330 TARGET 1.5310 1.5280 SL 1.5360
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