TRADING
TIPS :
GBP/USD hit
1.5746 during European morning trade, the session low; the pair
subsequently consolidated at 1.5741, slipping 0.22%.The pound edged
lower against the U.S. dollar on Friday, pulling back from a
six-month peak as the greenback recovered from the previous session's
mixed U.S. data and as investors awaited the release of additional
U.S. reports later in the day. Cable was likely to find support at
1.5630, the low of May 13 and resistance at 1.5816, Thurs day's high
and a six-month high. The weak inflation data reinforced expectations
that the Federal Reserve will hold off on raising interest rates
until the economic recovery is on a stronger footing.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5755 TARGET 1.5775 1.5805SL 1.5725
SELL
GBPUSD BELOW 1.5700 TARGET 1.5680 1.5650 SL 1.5730
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1470 TARGET 1.1490 1.1520 SL 1.1440
SELL
EURUSD BELOW 1.1390 TARGET 1.1370 1.1340 SL 1.1420
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