TRADING
TIPS :
The pound remained lower against the
dollar on Tuesday after data showing that U.K. government borrowing
unexpectedly increased last month, while expectations for higher
interest rates continued to underpin dollar demand.The Office for
National Statistics said British public borrowing rose to £12.1
billion in August from £10.7 billion a year earlier.It was the
widest budget deficit for the month of August since 2012 and was well
above economists’ forecasts of £9.0 billion. GBP/USD was down
0.18% to 1.5479, little changed from 1.5477 ahead of the data.The
dollar remained firm after comments by some Federal Reserve officials
overnight indicated that a U.S. rate hike is still on the cards this
year.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5360 TARGET 1.5380 1.5400 SL 1.5330
SELL
GBPUSD BELOW 1.5320 TARGET 1.5300 1.5270 SL 1.5350
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1130 TARGET 1.1150 1.1180 SL 1.1100
SELL
EURUSD BELOW 1.1100 TARGET 1.1080 1.1050 SL 1.1130
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