TRADING TIPS :
GBP/USD hit 1.4856 during European
morning trade, the pair’s lowest since April 16; the pair
subsequently consolidated at 1.4858, shedding 0.33%.The pound slipped
lower against the U.S. dollar in quiet trade on Tuesday, as the
greenback continued to recover from a recent batch of downbeat U.S.
data. Cable was likely to find support at 1.4699, the low of April 15
and resistance at 1.4986, Monday’s high. The greenback regained
ground after a recent string of soft economic data dampened optimism
on the U.S. recovery, adding to uncertainty over the timing of a rate
hike. The pound showed little reaction to data last 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 1.4950 TARGET 1.4970 1.5000 SL 1.4920
SELL
GBPUSD BELOW 1.4910 TARGET 1.4890 1.4860 SL 1.4940
RECOMMENDATION:
BUY
EURUSD ABOVE 1.0755 TARGET 1.0775 1.0805 SL 1.0725
SELL
EURUSD BELOW 1.0710 TARGET 1.0690 1.0660 SL 1.0740
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