TRADING TIPS :
GBP/USD hit 1.5297 during European
morning trade, the pair’s highest since February 6; the pair
subsequently consolidated at 1.5283, adding 0.19%. Investors remained
cautious following reports the European Commission could propose a
six-month extension to Greece’s existing bailout program at an
emergency meeting of the euro group of finance ministers, due to take
place later in the day.Athens is expected to ask for a bridge loan to
cover its funding needs until September, and to also propose new
economic reforms to replace some of the harshest austerity conditions
attached to its bailout.However, German Finance Minister Wolfgang
Schaeuble dampened hopes Wednesday morning, by saying there are no
plans to discuss a new agreement.
INTRADAY
OUTLOOK
Support:
1.5266
Resistance:
1.5325
RECOMMENDATION:
1.
Buy GBP/USD Above 1.5327-TG: 1.5347/1.5377 SL 1.5297
2.
Sell GBP/USD Below 1.5264-TG: 1.5244/1.5214 SL 1.5294
INTRADAY
OUTLOOK
Immediate
Support: 1.1261
Immediate
Resistance: 1.1334
RECOMMENDATION:
1.
Buy EUR/USD Above -1.1336 TG: 1.1356/1.1386 SL 1.1306
2.
Sell EUR/USD Below -1.1259 TG:1.1239/1.1209 SL 1.1289
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