TRADING TIPS :
GBP/USD pulled away from 1.5385, the
pair’s lowest since February 27, to hit 1.5409 during European
morning trade, still down 0.19%.The pound trimmed losses against the
U.S. dollar on Monday, after data showed that U.K. manufacturing
activity expanded at the fastest rate in seven months in February,
although demand for the greenback remained broadly supported by
Friday’s U.S. growth report. Cable was likely to find support
1.5332, the low of February 23 and resistance at 1.5539, the high of
February 25. In a report, market research group Markit said that its
U.K. manufacturing purchasing managers’ index rose to 54.1 last
month from a reading of 53.1 in January. Analysts had expected the
index to inch up to 53.4 in February.
INTRADAY
OUTLOOK
Support:
1.5340
Resistance:
1.5410
RECOMMENDATION:
1.
Buy GBP/USD Above 1.5415-TG: 1.5435/1.5465 SL 1.5385
2.
Sell GBP/USD Below 1.5335-TG: 1.5315/1.5285 SL 1.5365
INTRADAY
OUTLOOK
Support:
119.20
Resistance:
119.80
RECOMMENDATION:
1.
Buy USD/JPY Above 119.85-TG: 120.05/120.35 SL 119.55
2.
Sell USD/JPY Below 119.15-TG: 118.85/118.55 SL 119.45
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