TRADING TIPS :
GBP/USD was up 0.65% to 1.5334 from 1.5226 ahead of the inflation report.In a change to its forward guidance, the bank said it would now consider cutting interest rates below 0.5% if inflation dips more deeply into negative territory than expected.”The MPC stands ready to take whatever action is needed, as events unfold, to ensure inflation remains likely to return to target in a timely fashion, Carney said.The bank also raised its growth forecast for this year to 2.9% from 2.6% previously and said it also expects growth of 2.9% in 2016. The pound rose to session highs against the dollar on Thursday after the Bank of England said inflation is likely to fall to zero in the first half of this year, but said there was no threat of deflation taking hold in the U.K.
INTRADAY OUTLOOK
Support: 1.5425
Resistance: 1.5485
RECOMMENDATION:
1. Buy GBP/USD Above 1.5488-TG: 1.5508/1.5538 SL 1.5458
2. Sell GBP/USD Below 1.5420-TG: 1.5400/1.5370 SL 1.5450
GBP/USD was up 0.65% to 1.5334 from 1.5226 ahead of the inflation report.In a change to its forward guidance, the bank said it would now consider cutting interest rates below 0.5% if inflation dips more deeply into negative territory than expected.”The MPC stands ready to take whatever action is needed, as events unfold, to ensure inflation remains likely to return to target in a timely fashion, Carney said.The bank also raised its growth forecast for this year to 2.9% from 2.6% previously and said it also expects growth of 2.9% in 2016. The pound rose to session highs against the dollar on Thursday after the Bank of England said inflation is likely to fall to zero in the first half of this year, but said there was no threat of deflation taking hold in the U.K.
INTRADAY OUTLOOK
Support: 1.5425
Resistance: 1.5485
RECOMMENDATION:
1. Buy GBP/USD Above 1.5488-TG: 1.5508/1.5538 SL 1.5458
2. Sell GBP/USD Below 1.5420-TG: 1.5400/1.5370 SL 1.5450
INTRADAY OUTLOOK
Immediate Support: 1.1320
Immediate Resistance: 1.1380
RECOMMENDATION:
1. Buy EUR/USD Above -1.1382 TG: 1.1402/1.1432 SL 1.1352
2. Sell EUR/USD Below -1.1318 TG:1.1298/1.1268 SL 1.1348
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