TRADING
TIPS :
The pound rose to fresh five-month
highs against the U.S. dollar on Wednesday, after data showed that
U.K. unemployment rate fell to a six-and-a-half year low last month,
while demand for the greenback remained broadly under pressure.
GBP/USD hit 1.5742 during European morning trade, the pair’s
highest since December 17; the pair subsequently consolidated at
1.5725, gaining 0.37%.The U.K. Office for National Statistics said
that the unemployment rate ticked down to 5.5% last month from 5.6%
in March, hitting the lowest level since September 2008, in line with
expectations. The U.K. claimant count change dropped by 12,600 in
April, confounding expectations for a 20,000 decline. March’s
figure was revised to a 16,700 fall from a previously estimated drop
of 20,700.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5790 TARGET 1.5810 1.5840 SL 1.5760
SELL
GBPUSD BELOW 1.5720 TARGET 1.5700 1.5670 SL 1.5750
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1390 TARGET 1.1410 1.1440 SL 1.1360
SELL
EURUSD BELOW 1.1315 TARGET 1.1295 1.1265 SL 1.1345
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