TRADING
TIPS :
The British pound keeps its range play
intact, although edges slightly higher in the mid-European session,
lifting GBP/USD once again for a test of key barrier near 1.5635
levels. The GBP/USD pair trades 0.10% higher at 1.5629, inching
higher towards session highs located at 1.5636. The cable witnessed a
fresh bid wave as the GBP bulls try hard to surpass the session highs
which could open doors for further upside towards previous highs.
However, every attempt to the upside is restricted on the back of
broad-based US dollar strength as Sept Fed rate lift-off is back in
play. The US dollar index, a virtual gauge of greenback’s strength,
now trades 0.34% higher at 96.60.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5636 TARGET 1.5656 1.5686 SL 1.5606
SELL
GBPUSD BELOW 1.5590 TARGET 1.5570 1.5540 SL 1.5620
RECOMMENDATION:
BUY EURUSD ABOVE
1.1210 TARGET 1.1230 1.1260 SL 1.1180
SELL EURUSD BELOW
1.1080 TARGET 1.1060 1.1030 SL 1.1110
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