Trading Tips:The pound was trading at almost two-month lows against the dollar on Tuesday after data showing that U.K. inflation remained steady in May, as concerns over prospect of a British exit from the European Union continued to weigh. GBP/USD was down 0.87% at 1.4144, holding just above Monday’s two-month trough of 1.4114. The Office for National Statistics said the annual rate of U.K. inflation remained steady at 0.3% in May, slightly below economists’ expectations for an increase of 0.4%.Lower prices for clothing and footwear along with food and beverages put the largest downward pressure on inflation, the ONS said.Fuel prices rose as oil prices recovered, the report said.Core inflation, which excludes volatile energy and food costs, remained steady at 1.2%, falling slightly short of forecasts for a 1.3% increase.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.4200 TGT 1.4220 1.4240 SL 1.4170
SELL GBP/USD AROUND 1.4265-1.4263 TGT 1.4245 1.4205 SL 1.4295
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