TRADING
TIPS :
The pound was almost unchanged against
the U.S. dollar on Friday, after data showed that the U.K. trade
deficit widened less than expected in June, as investors remained
cautious ahead of U.S. jobs data due later in the day. GBP/USD hit
1.5524 during European morning trade, the session high; the pair
subsequently consolidated at 1.5513.The Office for National
Statistics reported on Friday that the U.K. trade deficit widened to
£9.18 billion in June from £8.42 billion in May, whose figure was
revised from a previously estimated deficit of £8.00 billion.
Analysts had expected the trade deficit to widen to £9.30 billion in
June. But markets were jittery ahead of the U.S. nonfarm payrolls
report due later Friday, which could reinforce expectations for
higher interest rates by the Federal Reserve.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5650 TARGET 1.5670 1.5700 SL 1.5620
SELL
GBPUSD BELOW 1.5450 TARGET 1.5430 1.5400 SL 1.5480
RECOMMENDATION:
BUY EURUSD ABOVE
1.0995 TARGET 1.1015 1.1045 SL 1.0965
SELL EURUSD BELOW
1.0935 TARGET 1.0915 1.0885 SL 1.0965
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