TRADING
TIPS :
The near-term breakout in GBP/USD may
gather pace during the last full-week of August should the key
speeches by central officials point to a tightening race between the
Bank of England (BoE) and the Federal Reserve to normalize monetary
policy. The sterling is posting marginal losses vs. the greenback on
Friday, with GBP/USD re-visiting session lows in the 1.5680. The
upside in GBP seems to have run out of steam around 1.5720, or
multi-week tops, fuelled by the generalized offered tone surrounding
the dollar and increasing expectations of a rate hike by the BoE
sooner than market currently estimates. In the data space, UK’s
Public Sector Net Borrowing came in at £2.07 billion vs. £2.40
billion initially anticipated. In the US, Market’s manufacturing
PMI is due later, with consensus pointing to a slight improvement to
54.0 for the current month vs. July’s 53.8.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5725 TARGET 1.5745 1.5775 SL 1.5695
SELL
GBPUSD BELOW 1.5600 TARGET 1.5580 1.5550 SL 1.5630
RECOMMENDATION:
BUY EURUSD ABOVE
1.1380 TARGET 1.1400 1.1430 SL 1.1350
SELL EURUSD BELOW
1.1265 TARGET 1.1245 1.1215 SL 1.1295
No comments:
Post a Comment