TRADING TIPS :
GBP/USD hit lows of 1.4566, the weakest
since June 10, 2010 and was last at 1.4686, off 0.31% for the day.
The pound extended losses against the dollar on Monday, sliding to
fresh five-year lows as Friday’s weaker than expected data on U.K.
industrial production and uncertainty ahead of next month’s
elections continued to weigh. The pound came under pressure after
official figures on Friday showed that U.K. industrial production
edged up 0.1% in February, undershooting forecasts of a 0.4% gain.
The smaller than expected increase in industrial output was due in
large part to a 12% annual decline in oil and gas production, the
largest drop since August 2013.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.4695 TARGET 1.4715 1.4745 SL 1.4665
SELL
GBPUSD BELOW 1.4630 TARGET 1.4600 1.4570 SL 1.4660
RECOMMENDATION:
BUY
EURUSD ABOVE 1.0595 TARGET 1.0615 1.0645 SL 1.0565
SELL
EURUSD BELOW 1.0540 TARGET 1.0520 1.0490 SL 1.0570
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