Trading Tips:After facing rejection just shy of 1.11 barrier, EUR/USD retraced to familiar range and trades muted around 1.1070 levels mainly driven weakness seen in EUR/GBP following the release of UK CPI print. The EUR/USD pair trades -0.07% lower at 1.1070, fading a spike to 1.1094 session highs. The recovery in the EUR/USD pair remained short-lived as the major slipped back into the negative territory largely dragged by steep losses witnessed in EUR/GBP after above expectations UK CPI figures boosted the pound across the board. Also, markets remain nervous ahead of a looming big debt repayment to the ECB on Thursday. Greece is waiting for the last step in its current bailout saga: approval of eleven euro zone parliaments before Athens could receive the first tranche from the third rescue package.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5730 TARGET 1.5750 1.5780 SL 1.5700
SELL GBP/USD BELOW 1.5560 TARGET 1.5540 1.5510 SL 1.5590
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