TRADING TIPS :
GBP/USD hit 1.6575 during European morning trade, the session high; the pair subsequently consolidated at 1.6578, adding 0.17%.Cable was likely to find support at 1.6537, the session low and a five-month low and resistance at 1.6599, the high of August 25.The dollar found support on Tuesday after the Conference Board said its index of consumer confidence rose to 92.4 this month, the highest since October 2007, from a reading of 90.3 in July.The data fuelled further optimism over the strength of the U.S. economic recovery.Last week, Federal Reserve Chair Janet Yellen said at Jackson Hole that the U.S. economy is recovering and added the labor market is improving as well.
INTRADAY OUTLOOK
Support: 1.3132
Resistance: 1.3200
RECOMMENDATION:
1. Buy EUR/USD Above 1.3203 -TG:1.3223/1.3253 SL 1.3173
2. Sell EUR/USD Below 1.3129-TG: 1.3109/1.3089 SL 1.3159
INTRADAY OUTLOOK
Immediate Support:1.6517
Immediate Resistance:1.6603
RECOMMENDATION:
1. Buy GBP/USD Above 1.6605 -TG: 1.6625/1.6655 SL 1.6575
2. Sell GBP/USD Below 1.6515- TG:1.6495/1.6465 SL 1.6545
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GBP/USD hit 1.6575 during European morning trade, the session high; the pair subsequently consolidated at 1.6578, adding 0.17%.Cable was likely to find support at 1.6537, the session low and a five-month low and resistance at 1.6599, the high of August 25.The dollar found support on Tuesday after the Conference Board said its index of consumer confidence rose to 92.4 this month, the highest since October 2007, from a reading of 90.3 in July.The data fuelled further optimism over the strength of the U.S. economic recovery.Last week, Federal Reserve Chair Janet Yellen said at Jackson Hole that the U.S. economy is recovering and added the labor market is improving as well.
Support: 1.3132
Resistance: 1.3200
RECOMMENDATION:
1. Buy EUR/USD Above 1.3203 -TG:1.3223/1.3253 SL 1.3173
2. Sell EUR/USD Below 1.3129-TG: 1.3109/1.3089 SL 1.3159
INTRADAY OUTLOOK
Immediate Support:1.6517
Immediate Resistance:1.6603
RECOMMENDATION:
1. Buy GBP/USD Above 1.6605 -TG: 1.6625/1.6655 SL 1.6575
2. Sell GBP/USD Below 1.6515- TG:1.6495/1.6465 SL 1.6545
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