GBP/USD hit 1.5225 during European morning trade, the session high; the pair subsequently consolidated at 1.5212, adding 0.20%. Cable was likely to find support at 1.5074, the low of January 13 and resistance at 1.5270, the high of January 14.The dollar showed little reaction to data on Thursday showing that the number of people who filed for unemployment assistance in the U.S. last week rose to a four-month high of 316,000, compared to expectations for a decline of 6,000.The pound edged higher against the U.S. dollar on Friday, but were held in check as demand for the greenback remained broadly supported despite Thursday\’s mixed bag of U.S. Data. A separate report showed that U.S. producer prices fell by the most in three years in December, falling 0.3% as energy costs tumbled.
INTRADAY OUTLOOK:
Support: 1.5193
Resistance: 1.5266
RECOMMENDATION:
1. Buy GBP/USD Above 1.5268-TG: 1.5288/1.5318 SL 1.5238
2. Sell GBP/USD Below 1.5190-TG: 1.5170/1.5140 SL 1.5220
INTRADAY OUTLOOK
Immediate Support: 1.1688
Immediate Resistance: 1.1758
RECOMMENDATION:
1. Buy EUR/USD Above -1.1760 TG: 1.1780/1.1810 SL 1.1730
2. Sell EUR/USD Below -1.1685 TG:1.1665/1.1635 SL 1.1715
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