TRADING TIPS :
GBP/USD hit 1.4984 during European
morning trade, the session high; the pair subsequently consolidated
at 1.4954.Cable was likely to find support at 1.4809, the low of
April 16 and resistance at 1.5054, the high of April 17.The pound was
almost unchanged against the U.S. dollar in subdued trade on Monday,
as demand for the greenback remained broadly under pressure as
trading volumes were expected to remain light with no major U.S. data
to be released throughout the session. The greenback remained under
pressure as investors pushed back expectations for higher U.S.
interest rates after a recent string of soft economic data dampened
optimism on the country’s recovery. Markets shrugged off data on
Friday showing that the U.K. claimant count dropped 20,700 last
month, compared to expectations for a 29,500 decline.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.4920 TARGET 1.4940 1.4970 SL 1.4890
SELL
GBPUSD BELOW 1.4870 TARGET 1.4850 1.4820 SL 1.4900
RECOMMENDATION:
BUY
EURUSD ABOVE 1.0750 TARGET 1.0770 1.0800 SL 1.0720
SELL
EURUSD BELOW 1.0710 TARGET 1.0690 1.0660 SL 1.0740
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