GBP/USD was trading at 1.5978, almost unchanged for the day, off Wednesday’s one-year lows of 1.5867. Sterling had a subdued reaction after the Office of National Statistics said industrial production rose 0.6% in September, beating expectations for a 0.4% gain. On a year-over-year basis, industrial output rose 1.5%, in line with forecasts.Manufacturing production increased by 0.4% from a month earlier, slightly better than forecasts of 0.3% and rose by an annualized 2.9%.The pound fell to a one year low against the dollar on Wednesday after data showed that the U.K. service sector expanded at the slowest rate in 17 months in October, adding to signs that the pace of the economic recovery is cooling.
INTRADAY OUTLOOK
Support: 1.2463
Resistance: 1.2523
RECOMMENDATION:
1. Buy EUR/USD Above 1.2525-TG:1.2545/1.2575 SL 1.2495
2. Sell EUR/USD Below 1.2460-TG:1.2440/1.2410 SL 1.2490
INTRADAY OUTLOOK
Immediate Support: 143.21
Immediate Resistance: 143.73
RECOMMENDATION:
1. Buy USD/JPY Above 143.75-TG:143.95/144.35 SL 143.45
2. Sell USD/JPY Below 143.18-TG:142.98/142.68 SL 143.48
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