TRADING
TIPS :
GBP/USD hit 1.5240 during European
morning trade, the session high; the pair subsequently consolidated
at 1.5244, rising 0.28%.The pound rose against the U.S. dollar on
Tuesday, boosted by upbeat U.K. construction activity data, while
demand for the greenback slightly weakened as market participants
locked in profits from its recent rally. Cable was likely to find
support at 1.5161, the low of May 7 and resistance at 1.5345, the
high of May 29. In a report, market research firm Market and the
Chartered Institute of Purchasing & Supply said that their U.K.
construction purchasing managers’ index rose to 55.9 last month
from a reading of 54.2 in April. Economists had expected the index to
improve to 55.0 in May.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5390 TARGET 1.5410 1.5440 SL 1.5360
SELL
GBPUSD BELOW 1.5300 TARGET 1.5280 1.5250 SL 1.5330
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1220 TARGET 1.1240 1.1270 SL 1.1190
SELL
EURUSD BELOW 1.1100 TARGET 1.0980 1.0950 SL 1.1130
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