TRADING
TIPS :
The pound was little changed against
the U.S. dollar on Thursday, hovering close to a three-and-a-half
week high after data showed that U.K. retail sales rose in line with
expectations in August, as investors were cautious ahead of the
Federal Reserve’s policy statement. GBP/USD hit 1.5526 during
European morning trade, the session high; the pair subsequntly
consolidated at 1.5495.Cable was likely to find support at 1.5326,
Wednesday’s low and resistance at 1.5720, the high of August 26.The
Office for National Statistics said U.K. retail sales increased by
0.2% last month, in line with forecasts.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5580 TARGET 1.5600 1.5630 SL 1.5550
SELL
GBPUSD BELOW 1.5550 TARGET 1.5530 1.5500 SL 1.5580
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1410 TARGET 1.1430 1.1460 SL 1.1380
SELL
EURUSD BELOW 1.1380 TARGET 1.1360 1.1330 SL 1.1400
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