TRADING
TIPS :
GBP/USD was down 0.63% to 1.5555 from
around 1.5576 ahead of the data. The pound fell to session lows
against the dollar on Tuesday after data showed that the U.K. entered
into negative inflation last month for the first time since 1960.The
Office for National Statistics said the annual rate of inflation
dipped 0.1% in April after remaining unchanged in the previous two
months. Economists had expected annual inflation to remain unchanged
at zero. Consumer prices rose just 0.2% from a month earlier the ONS
said, compared to forecasts for an increase of 0.4% after a 0.2%
increase in March.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5540 TARGET 1.5560 1.5590 SL 1.5510
SELL
GBPUSD BELOW 1.5490 TARGET 1.5470 1.5440 SL 1.5520
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1170 TARGET 1.1190 1.1220 SL 1.1140
SELL
EURUSD BELOW 1.1120 TARGET 1.1100 1.1070 SL 1.1150
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