TRADING TIPS :
GBP/USD hit 1.5474 during European
morning trade, the session high; the pair subsequently consolidated
at 1.5446. Investors remained cautious as Fed Chair Janet Yellen was
to testify before the Senate Banking Committee in Washington later
Tuesday, with market participants watching for any indication on when
U.S. interest rates may start to rise.Last week’s minutes of the
Fed’s January meeting were more dovish than expected, showing that
some officials thought that raising rates too soon could weigh on the
U.S. economic recovery, and that a deterioration in the global
economic outlook could also pose a threat.The pound shrugged off a
report by the Confederation of British Industry on Monday showing
that its index of U.K. retailers plunged by 38.0 points to a 21-month
low of 1.0 in February from 39.0 in January.
INTRADAY
OUTLOOK
Support:
1.5401
Resistance:
1.5479
RECOMMENDATION:
1.
Buy GBP/USD Above 1.5481-TG: 1.5501/1.5531 SL 1.5451
2.
Sell GBP/USD Below 1.5399-TG: 1.5379/1.5349 SL 1.15429
INTRADAY
OUTLOOK
Support:
1.1278
Resistance:
1.1350
RECOMMENDATION:
1.
Buy EUR/USD Above 1.1352-TG: 1.1372/1.1402 SL 1.1322
2.
Sell EUR/USD Below 1.1276-TG: 1.1256/1.1226 SL 1.1306
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