Trading Tips:The pound edged higher against the U.S. dollar on Friday, but gains were expected to be limited as investors remained cautious amid persistant global turmoil and ahead of the release of U.S. data later in the day. GBP/USD hit 1.4528 during European morning trade, the session high; the pair subsequently consolidated at 1.4511, adding 0.26%.Cable was likely to find support at 1.4381, Thursday’s low and resistance at 1.4579, the high of February 10.Investors remained cautious amid ongoing fears over the health of the global economy and the euro zone financial sector. Markets were also jittery as oil prices remained below $28 a barel on Friday, even after the United Arab Emirates energy minister said the OPEC was willing to talk with other exporters about cutting output. In the U.S., Federal Reserve Chair Janet Yellen reiterated to the Senate on Thursday comments made the previous day to Congress.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.4525 TARGET 1.4545 1.4575 SL 1.4495
SELL GBP/USD BELOW 1.4500 TARGET 1.4480 1.4450 SL 1.4530
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