TRADING
TIPS :
The pound slid lower against the U.S. dollar on
yesterday, pulling away from Wednesday's two-and-a-half week peaks
as the green back recovered from the previous session's losses ahead
of the release of U.S. data later in the day. The dollar regained
some strength after weakening broadly on Wednesday as investors
looked ahead to U.S. retail sales and jobless claims data due later
in the day for further indications on the strength of the economy.
The pound had strengthened on Wednesday after the U.K. Office for
National Statistics reported that industrial output rose by 0.4% in
April, ahead of forecasts for a 0.1% increase, following an upwardly
revised increase of 0.6% in March. Sentiment on the single currency
remained fragile as uncertainty over Greece continued, although
hopes for an agreement on a cash-for reforms deal lent some support.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5530 TARGET 1.5550 1.5580 SL 1.5500
SELL
GBPUSD BELOW 1.5510 TARGET 1.5490 1.5460 SL 1.5540
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1280 TARGET 1.1300 1.1330 SL 1.1250
SELL
EURUSD BELOW 1.1240 TARGET 1.1220 1.1190 SL 1.1270
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