TRADING TIPS :
GBP/USD hit 1.5466 during European morning trade, the session high; the pair subsequently consolidated at 1.5448.Sentiment on the dollar remained vulnerable after the minutes of the Fed’s January meeting showed that policymakers expressed concern that raising interest rates too soon could dampen the U.S. economic recovery. The pound had strengthened on Wednesday after data showed that the U.K. unemployment rate fell to a six-year low 5.7% in the three months to December from 5.8% in the preceding three month-period and better than expectations for a reading of 5.8%.The report also showed that the claimant count fell by 38,600 last month, compared to expectations for a decline of 25,000.Meanwhile, investors continued to focus on developments in Greece, as Athens was expected to submit a request for an extension of its existing loan agreement with the euro zone, which differentiates from its bailout, later Thursday.
INTRADAY OUTLOOK
Support: 1.5401
Resistance: 1.5478
RECOMMENDATION:
1. Buy GBP/USD Above 1.5480-TG: 1.5500/1.5530 SL 1.5450
2. Sell GBP/USD Below 1.5399-TG: 1.5379/1.5349 SL 1.5429
INTRADAY OUTLOOK
Immediate Support: 1.1342
Immediate Resistance: 1.1448
RECOMMENDATION:
1. Buy EUR/USD Above -1.1450 TG: 1.1470/1.1500 SL 1.1420
2. Sell EUR/USD Below -1.1340 TG:1.1320/1.1290 SL 1.1370
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