Trading Tips:The pound held steady against the U.S. dollar on Friday, as the Bank of England’s monetary policy decision on Thursday continued to weigh mildly on sterling, while investors remained cautious with the greenback ahead of a string of U.S. data due later in the day. GBP/USD hit 1.5132 during European morning trade, the session low; the pair subsequently consolidated at 1.5153.Cable was likely to find support at 1.5075, the low of December 4 and resistance at 1.5240, the high of November 17.Sterling weakened after dovish Bank of England meeting minutes on Thursday indicated that interest rates are likely to remain on hold at record lows for longer. The Monetary Policy Committee voted eight-to- one to keep rates on hold at 0.5%. Ian McCafferty, one of four external members on the nine-person MPC, voted to increase rates to 0.75%.the economy.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5230 TARGET 1.5250 1.5270 SL 1.5200
SELL GBP/USD BELOW 1.5200 TARGET 1.5180 1.5150 SL 1.5230
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