TRADING TIPS :
GBP/USD hit 1.4990 during European morning trade, the pair’s lowest since January 30; the pair subsequently consolidated at 1.5018, slipping 0.17%.U.K. construction purchasing managers’ index increased to 59.1 last month from a reading of 57.6 in December. Economists had expected the index to dip to 57.0 in January.The data came a day after Markit said that its U.K. manufacturing PMI rose to 53.0 last month from a reading of 52.5 in December. However, commenting on the report, Rob Dobson, senior economist at survey compiler Markit, said that “at this rate, the sector will provide little meaningful boost to the economy in the first quarter. “Meanwhile, sentiment on the dollar remained vulnerable after data on Monday showed that U.S. consumer spending fell at the fastest rate since September 2009 in December, dropping 0.3% as households saved on cheaper gasoline prices.
INTRADAY OUTLOOK
Support: 1.5037
Resistance: 1.5127
RECOMMENDATION:
1. Buy GBP/USD Above 1.5129-TG: 1.5149/1.5179 SL 1.5099
2. Sell GBP/USD Below 1.5035-TG: 1.5015/1.4985 SL 1.5065
INTRADAY OUTLOOK
Immediate Support: 1.1292
Immediate Resistance: 1.1382
RECOMMENDATION:
1. Buy EUR/USD Above -1.1384 TG: 1.1404/1.1434 SL 1.1354
2. Sell EUR/USD Below -1.1290 TG:1.1270/1.1240 SL 1.1320
GBP/USD hit 1.4990 during European morning trade, the pair’s lowest since January 30; the pair subsequently consolidated at 1.5018, slipping 0.17%.U.K. construction purchasing managers’ index increased to 59.1 last month from a reading of 57.6 in December. Economists had expected the index to dip to 57.0 in January.The data came a day after Markit said that its U.K. manufacturing PMI rose to 53.0 last month from a reading of 52.5 in December. However, commenting on the report, Rob Dobson, senior economist at survey compiler Markit, said that “at this rate, the sector will provide little meaningful boost to the economy in the first quarter. “Meanwhile, sentiment on the dollar remained vulnerable after data on Monday showed that U.S. consumer spending fell at the fastest rate since September 2009 in December, dropping 0.3% as households saved on cheaper gasoline prices.
INTRADAY OUTLOOK
Support: 1.5037
Resistance: 1.5127
RECOMMENDATION:
1. Buy GBP/USD Above 1.5129-TG: 1.5149/1.5179 SL 1.5099
2. Sell GBP/USD Below 1.5035-TG: 1.5015/1.4985 SL 1.5065
INTRADAY OUTLOOK
Immediate Support: 1.1292
Immediate Resistance: 1.1382
RECOMMENDATION:
1. Buy EUR/USD Above -1.1384 TG: 1.1404/1.1434 SL 1.1354
2. Sell EUR/USD Below -1.1290 TG:1.1270/1.1240 SL 1.1320
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