The pound edged higher against the U.S. dollar on Monday, as sentiment on the greenback remained vulnerable ahead of the Federal Reserve’s highly-anticipated policy statement on Thursday.GBP/USD hit 1.5471 during European morning trade, the pair’s highest since September 10; the pair subsequently consolidated at 1.5450, adding 0.16%.Cable was likely to find support at 1.5335, the low of September 10 and resistance at 1.5508, the high of August 27.Investors remained cautious amid concerns that mixed U.S. economic reports and recent volatility in global financial markets will prompt the U.S. central bank to refrain from hiking interest rates on Thursday. BTST CASH BUY NILKAMAL AT CMP 916-918 TARGET 930 950 SL 900.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5435 TARGET 1.5455 1.5485 SL 1.5405
SELL GBP/USD BELOW 1.5415 TARGET 1.5395 1.5365 SL 1.5445
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