TRADING
TIPS :
The
pound was moderately lower against the U.S. dollar on Wednesday, as
demand for the greenback remained broadly supported by hopes for a
U.S. rate hike before the end of the year. GBP/USD hit 1.5298 during
European morning trade, the pair's lowest since September 8; the pair
subsequently consolidated at 1.5346, slipping 0.08%.Cable was likely
to find support at 1.5266, the low of September 8 and resistance at
1.5456, the high of September 15.The dollar remained supported after
comments by some Federal Reserve officials Monday night indicated
that a U.S. rate hike is still on the cards this year.Meanwhile, the
pound remained under pressure after the U.K. Office for National
Statistics reported on Tuesday that public borrowing rose to £12.1
billion in August from £10.7 billion a year earlier.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5270 TARGET 1.5290 1.5320 SL 1.5240
SELL
GBP/USD BELOW 1.5240 TARGET 1.5220 1.5190 SL 1.5270
RECOMMENDATION:
BUY
EUR/USD ABVOE 1.1200 TARGET 1.1220 1.1250 SL 1.1170
SELL
EUR/USD BELOW 1.1170 TARGET 1.1150 1.1120 SL 1.1200
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