TRADING
TIPS :
The pound edged up near two-week highs
against the U.S. dollar on Thursday, as markets awaited the Bank of
England’s interest rate decision, due later in the trading session.
GBP/USD hit 1.5337 during European morning trade, the session high;
the pair subsequently consolidated at 1.5330, easing up 0.08%.Cable
was likely to find support at 1.5218, Wednesday’s low and
resistance at 1.5369, the high of September 23.Later Thursday, the
BoE was expected to leave its benchmark interest rate at 0.50% and
the level of its monthly asset purchases at £375 billion.Meanwhile,
the dollar remained under pressure by diminished expectations for a
rate hike by the Fed this year in the wake of last Friday’s
unexpectedly weak U.S. jobs report for September.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5340 TARGET 1.5360 1.5390 SL 1.5310
SELL
GBP/USD BELOW 1.5280 TARGET 1.5260 1.5230 SL 1.5310
RECOMMENDATION:
BUY
EUR/USD ABOVE1.1300 TARGET 1.1320 1.1350 SL 1.1270
SELL
EUR/USD BELOW 1.1240 TARGET 1.1220 1.1190 SL 1.1270
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