TRADING
TIPS :
GBP/USD was at 1.5291, little changed
from around 1.5293 ahead of the report. The pound remained lower
against the dollar on Tuesday after data showed that the U.K. trade
deficit fell to the lowest in more than a year in April, indicating
that it may create less of a drag on growth in the current quarter.
The Office for National Statistics said the trade deficit narrowed to
£1.2 billion in April, the lowest since March 2014 from an upwardly
revised £3.1 billion the previous month. The goods trade deficit
narrowed to £8.5 billion from £10.7 billion, also the lowest since
March last year. The U.K.’s trade deficit trimmed 0.9% off overall
economic growth in the first quarter, and the economy expanded just
0.3%.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5400 TARGET 1.5420 1.5450 SL 1.5370
SELL
GBPUSD BELOW 1.5350 TARGET 1.5330 1.5300 SL 1.5380
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1320 TARGET 1.1340 1.1370 SL 1.1290
SELL
EURUSD BELOW 1.1250 TARGET 1.1230 1.1200 SL 1.1280
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