TRADING
TIPS :
GBP/USD hit 1.5690 during European
morning trade, the session high; the pair subsequently consolidated
at 1.5659. The pound held steady against the U.S. dollar on Friday,
after data showed that U.K. public sector net borrowing rose less
than expected last month, while demand for the greenback remained
under pressure. Cable was likely to find support at 1.5520,
Thursday’s low and resistance at 1.5750, the high of May 17.The
U.K. Office for National Statistics reported that public sector net
borrowing rose by £6.04 billion in April, compared to expectations
for an increase of £7.80 billion. The change in public sector net
borrowing for March was revised to a £6.06 billion gain from a
previously estimated £6.74 billion increase.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5540 TARGET 1.5560 1.5590 SL 1.5510
SELL
GBPUSD BELOW 1.5445 TARGET 1.5425 1.5395 SL 1.5475
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1020 TARGET 1.1040 1.070 SL 1.0990
SELL
EURUSD BELOW 1.0965 TARGET 1.0945 1.0915 SL 1.0935
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