TRADING
TIPS :
GBP/USD hit lows of
1.5177 immediately following the release of the data and was last at
1.5212 from around 1.5225 ahead of the data. Sterling hit highs of
1.5260 earlier Tuesday, the most since March 6.The pound retreated
from two-month highs against the dollar on Tuesday after data showed
that U.K. economic growth slowed more sharply than expected in the
first three months of the year. The Office of National Statistics
said gross domestic product expanded 0.3% in the three months to
March, slowing from 0.6% in the final quarter of 2014. It was the
slowest rate of growth since the fourth quarter of 2012.The consensus
forecast among economists was for a more moderate slowdown to 0.5%.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5342 TARGET 1.5362 1.5392 SL 1.5312
SELL
GBPUSD BELOW 1.5334 TARGET 1.5314 1.5284 SL 1.5366
RECOMMENDATION:
BUY
EURUSD ABOVE 1.0974 TARGET 1.0994 1.1027 SL 1.0944
SELL
EURUSD BELOW 1.0965 TARGET 1.0945 1.0915 SL 1.0995
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