TRADING TIPS :
GBP/USD hit 1.5144 during European morning trade, the pair’s lowest since January 8; the pair subsequently consolidated at 0.7656, rising 0.28%.Cable was likely to find support at 1.5032, the low of January 8 and an 18- month low and resistance at 1.5236, the high of January 16.The dollar remained broadly supported after the Swiss National Bank shocked markets last Thursday by abandoning its three-year old 1.20 per euro exchange rate cap. Meanwhile, sentiment on the pound remained vulnerable after data last week 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: 1.5117
Resistance: 1.5172
RECOMMENDATION:
1. Buy GBP/USD Above 1.5175-TG: 1.5195/1.5225 SL 1.5145
2. Sell GBP/USD Below 1.5114-TG: 1.5094/1.5064 SL 1.5144
INTRADAY OUTLOOK
Immediate Support: 1.1566
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 -1.1564 TG:1.1544/1.1514 SL 1.1594
GBP/USD hit 1.5144 during European morning trade, the pair’s lowest since January 8; the pair subsequently consolidated at 0.7656, rising 0.28%.Cable was likely to find support at 1.5032, the low of January 8 and an 18- month low and resistance at 1.5236, the high of January 16.The dollar remained broadly supported after the Swiss National Bank shocked markets last Thursday by abandoning its three-year old 1.20 per euro exchange rate cap. Meanwhile, sentiment on the pound remained vulnerable after data last week 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: 1.5117
Resistance: 1.5172
RECOMMENDATION:
1. Buy GBP/USD Above 1.5175-TG: 1.5195/1.5225 SL 1.5145
2. Sell GBP/USD Below 1.5114-TG: 1.5094/1.5064 SL 1.5144
INTRADAY OUTLOOK
Immediate Support: 1.1566
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 -1.1564 TG:1.1544/1.1514 SL 1.1594
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