TRADING TIPS :
GBP/USD hit 1.5297 during European morning trade, the pair’s highest since February 6; the pair subsequently consolidated at 1.5283, adding 0.19%.Investors remained cautious following reports the European Commission could propose a six-month extension to Greece’s existing bailout program at an emergency meeting of the euro group of finance ministers, due to take place later in the day.Athens is expected to ask for a bridge loan to cover its funding needs until September, and to also propose new economic reforms to replace some of the harshest austerity conditions attached to its bailout.However, German Finance Minister Wolfgang Schaeuble dampened hopes Wednesday morning, by saying there are no plans to discuss a new agreement.
INTRADAY OUTLOOK
Support: 1.5266
Resistance: 1.5325
RECOMMENDATION:
1. Buy GBP/USD Above 1.5327-TG: 1.5347/1.5377 SL 1.5297
2. Sell GBP/USD Below 1.5264-TG: 1.5244/1.5214 SL 1.5294
INTRADAY OUTLOOK
Immediate Support: 1.1261
Immediate Resistance: 1.1334
RECOMMENDATION:
1. Buy EUR/USD Above -1.1336 TG: 1.1356/1.1386 SL 1.1306
2. Sell EUR/USD Below -1.1259 TG:1.1239/1.1209 SL 1.1289
GBP/USD hit 1.5297 during European morning trade, the pair’s highest since February 6; the pair subsequently consolidated at 1.5283, adding 0.19%.Investors remained cautious following reports the European Commission could propose a six-month extension to Greece’s existing bailout program at an emergency meeting of the euro group of finance ministers, due to take place later in the day.Athens is expected to ask for a bridge loan to cover its funding needs until September, and to also propose new economic reforms to replace some of the harshest austerity conditions attached to its bailout.However, German Finance Minister Wolfgang Schaeuble dampened hopes Wednesday morning, by saying there are no plans to discuss a new agreement.
INTRADAY OUTLOOK
Support: 1.5266
Resistance: 1.5325
RECOMMENDATION:
1. Buy GBP/USD Above 1.5327-TG: 1.5347/1.5377 SL 1.5297
2. Sell GBP/USD Below 1.5264-TG: 1.5244/1.5214 SL 1.5294
INTRADAY OUTLOOK
Immediate Support: 1.1261
Immediate Resistance: 1.1334
RECOMMENDATION:
1. Buy EUR/USD Above -1.1336 TG: 1.1356/1.1386 SL 1.1306
2. Sell EUR/USD Below -1.1259 TG:1.1239/1.1209 SL 1.1289
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