TRADING TIPS :
GBP/USDhit 1.5173 during European morning trade, the session high; the pair subsequently consolidated at 1.5169, adding 0.17%.Investors were waiting to see if the ECB would embark on a large scale quantitative easing program later in the day.Earlier Thursday, the Office for National Statistics said that U.K. public sector net borrowing rose to £12.47 billion last month from a revised £11.73 billion in November, whose figure was revised from a previously estimated £13.41 billion.Analysts had expected public sector net borrowing to decline to £9.7 billion in December. The pound had weakened on Wednesday after the minutes of the Bank of England’s January policy meeting showed that members voted unanimously to keep the asset puschase facility program on hold.
INTRADAY OUTLOOK
Support: 1.5120
Resistance: 1.5201
RECOMMENDATION:
1. Buy GBP/USD Above 1.5203-TG: 1.5223/1.5253 SL 1.5173
2. Sell GBP/USD Below 1.5118-TG: 1.5098/1.5068 SL 1.5148
INTRADAY OUTLOOK
Immediate Support: 1.1614
Immediate Resistance: 1.1678
RECOMMENDATION:
1. Buy EUR/USD Above -1.1680 TG: 1.1700/1.1730 SL 1.1650
2. Sell EUR/USD Below -1.1612 TG:1.1592/1.1562 SL 1.1642
Gold futures retreated, failing to secure a foothold above $1,300, as the U.S. dollar strengthened against rivals.
