TRADING TIPS :
GBP/USD hit 1.5419 during European
morning trade, the pair’s highest since January 2; the pair
subsequently consolidated at 1.5388.The pound had strengthened on
Thursday after the BoE said inflation is likely to fall to zero in
the first half of this year, but added that there was no threat of
deflation taking hold in the U.K.In its quarterly inflation report,
the BoE said “it is now more likely than not that CPI inflation
will dip briefly below zero at some point in the first half of 2015,”
and remain “close to zero” for most of the year.However, BoE
Governor Mark Carney said there was not threat of persistent
deflation as the decline in inflation was due to falling petrol, food
and energy prices.In addition, the bank said it would now consider
cutting interest rates below 0.5% if inflation dips more deeply into
negative territory than expected.
INTRADAY
OUTLOOK
Support:
1.5318
Resistance:
1.5420
RECOMMENDATION:
1.
Buy GBP/USD Above 1.5422-TG: 1.5442/1.5472 SL 1.5392
2.
Sell GBP/USD Below 1.5316-TG: 1.5296/1.5266 SL 1.5346
INTRADAY
OUTLOOK
Immediate
Support: 1.1361
Immediate
Resistance: 1.1459
RECOMMENDATION:
1.
Buy EUR/USD Above -1.1461 TG: 1.1481/1.1511 SL 1.1431
2.
Sell EUR/USD Below -1.1359 TG:1.1339/1.1309 SL 1.1389
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