TRADING
TIPS :
The GBP/USD pair 0.17% higher at
1.5255, heading for a test of 20-DMA located at 1.5290 levels. The
major keeps pushing higher, as the European traders hit their desks
and prefer to hold the UK currency in anticipation of a stronger than
previous industrial figures from Britain. The UK industrial
production results in August are seen advancing 0.3% on a monthly
basis after the 0.4% drop reported in July, and adding 1.2% on an
annual basis compared to the 0.8% growth reported a month ago. On the
USD-side, the renewed strength in the greenback against its major
peers appears to have negligible impact on the cable. The USD index
rises to 95.60, up 0.06% on the day. Focus now remains on the UK
industrial production data and the NIESR GDP estimate due later today
for fresh incentives.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5300 TARGET 1.5320 1.5350 SL 1.5270
SELL
GBP/USD BELOW 1.5250 TARGET 1.5230 1.5200 SL 1.5280
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1270 TARGET 1.1290 1.1320 SL 1.1240
SELL
EUR/USD BELOW 1.1220 TARGET 1.1200 1.1170 SL 1.1250
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