TRADING TIPS :
GBP/USD hit 1.5234 during European morning trade, the session high; the pair subsequently consolidated at 1.5177, adding 0.18%.The dollar remained broadly supported after the Swiss National Bank abandoned its three- year old 1.20 per euro exchange rate cap in a shock move last Thursday.In addition, the University of Michigan said, in a preliminary report on Friday, that its consumer sentiment index rose to a 11-year high of 98.2 this month from 93.6 in December, compared to expectations for a rise to 94.1.The pound had come under pressure last week after data showed that the annual rate of consumer inflation in the U.K. slowed to 0.5% last month from 1.0% in November.The slowdown in inflation underlined expectations that the Bank of England will keep interest rates on hold at record lows for most of this year.
INTRADAY OUTLOOK
Support: 1.5052
Resistance: 1.5101
RECOMMENDATION:
1. Buy GBP/USD Above 1.5103-TG: 1.5123/1.5153 SL 1.5073
2. Sell GBP/USD Below 1.5050-TG: 1.5020/1.4990 SL 1.5080
INTRADAY OUTLOOK
Immediate Support: 1.1548
Immediate Resistance: 1.1620
RECOMMENDATION:
1. Buy EUR/USD Above -1.1622 TG: 1.1642/1.1672 SL 1.1592
2. Sell EUR/USD Below -1.1546 TG:1.1526/1.1496 SL 1.1576
GBP/USD hit 1.5234 during European morning trade, the session high; the pair subsequently consolidated at 1.5177, adding 0.18%.The dollar remained broadly supported after the Swiss National Bank abandoned its three- year old 1.20 per euro exchange rate cap in a shock move last Thursday.In addition, the University of Michigan said, in a preliminary report on Friday, that its consumer sentiment index rose to a 11-year high of 98.2 this month from 93.6 in December, compared to expectations for a rise to 94.1.The pound had come under pressure last week after data showed that the annual rate of consumer inflation in the U.K. slowed to 0.5% last month from 1.0% in November.The slowdown in inflation underlined expectations that the Bank of England will keep interest rates on hold at record lows for most of this year.
INTRADAY OUTLOOK
Support: 1.5052
Resistance: 1.5101
RECOMMENDATION:
1. Buy GBP/USD Above 1.5103-TG: 1.5123/1.5153 SL 1.5073
2. Sell GBP/USD Below 1.5050-TG: 1.5020/1.4990 SL 1.5080
INTRADAY OUTLOOK
Immediate Support: 1.1548
Immediate Resistance: 1.1620
RECOMMENDATION:
1. Buy EUR/USD Above -1.1622 TG: 1.1642/1.1672 SL 1.1592
2. Sell EUR/USD Below -1.1546 TG:1.1526/1.1496 SL 1.1576
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