TRADING
TIPS :
The GBP/USD pair is unable to detach
from the 1.5600 price zone, having retraced from a daily high of
1.5604 after the release of the UK employment data, which suggests
the labor market is losing pace. More people in Britain is looking
for a job, which left the jobless rate at 5.6% in July. Wages,
including bonuses, rose 2.4% in its year-on-year reading in the
second quarter, compared to the 3.2% printed the previous month. News
sent the pair to a daily low of 1.5534, from where the pair bounced
back. Another 1.0K expansion in U.K. Jobless Claims may produce
headwinds for the British Pound and spur a near-term decline in
GBP/USD as it raises the risk of seeing the Bank of England (BoE)
further delay its normalization cycle.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5660 TARGET 1.5680 1.5710 SL 1.5630
SELL
GBPUSD BELOW 1.5530 TARGET 1.5510 1.5480 SL 1.5560
RECOMMENDATION:
BUY EURUSD ABOVE
1.1225 TARGET 1.1245 1.1275 SL 1.1195
SELL EURUSD BELOW
1.1055 TARGET 1.035 1.005 SL 1.1085
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