TRADING
TIPS :
GBP/USD was last at 1.5189, up slightly
from around 1.5160 ahead of the data. The pound was little changed
against the dollar on Wednesday after data showed that growth in the
U.K. service sector jumped to an eight- month high in April, as
investors remained on the sidelines ahead of Thursday’s
parliamentary elections. A research firm said the services purchasing
managers’ index rose to 59.5 in April from 58.9 in March.
Economists had forecast a decline to 58.5.A reading below 50.0
indicates activity is declining, while a reading above that level
implies it is increasing. The robust data eased concerns over an
economic slowdown after recent similar surveys showed that growth in
both the manufacturing and construction sectors slowed sharply in
April and another report showed that the U.K. economy expanded just
0.3% in the first quarter
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5270 TARGET 1.5290 1.5320 SL 1.5240
SELL
GBPUSD BELOW 1.5200 TARGET 1.5180 1.5150 SL 1.5230
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1370 TARGET 1.1390 1.1420 SL 1.1330
SELL
EURUSD BELOW 1.1315 TARGET 1.1295 1.1265 SL 1.1345
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