TRADING
TIPS :
The pound rose against its U.S.
counterpart on Monday, but gains were expected to remain limited as
expectations for a U.S. rate hike in the coming months continued to
lend broad support to the greenback.GBP/USD hit 1.5232 during
European morning trade, the session high; the pair subsequently
consolidated at 1.5214, adding 0.23%.Cable was likely to find support
at 1.5132, Friday’s low and a four-month low and resistance at
1.5261, Friday’s high.The dollar found support after Federal
Reserve Chair Janet Yellen said last Thursday that the U.S. central
bank remains on track to raise interest rates this year. The pound
remained supported after Bank of England official Jon Cunliffe said
last week that the U.K. economy was performing well compared to its
international counterparts, fuelling further expectations that the
BoE its on its way to raise interest rates as well.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5180 TARGET 1.5200 1.15230 SL 1.5150
SELL
GBP/USD BELOW 1.5150 TARGET 1.5130 1.5100 SL 1.5180
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1270 TARGET 1.1290 1.1320 SL 1.1240
SELL
EUR/USD BELOW 1.1240 TARGET 1.1220 1.1190 SL 1.1270
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