Trading Tips:Sterling rose to the day’s highs against the dollar on Wednesday as fears that the U.K. may vote to exit the European Union eased and after data showing that Britain’s unemployment rate fell, while pay growth rose in the three months to April. GBP/USD hit highs of 1.4215, pulling further away from the two-month trough of 1.4090 set on Tuesday. The pound regained ground as risk appetite recovered and investors turned their attention to the outcome of the Federal Reserve’s meeting later in the day.The Fed was to conclude its two-day policy meeting later on Wednesday and investors were looking for fresh indications on whether the U.S. central bank still expects to raise interest rates twice this year.Sterling has weakened across the board in recent sessions after a number of opinion polls showed that the U.K.’s EU referendum race is tightening ahead of the June 23 vote.
RECOMMENDATION :
BUY GBP/USD AROUND 1.4090 TGT 1.4110 1.4140 SL 1.4060
SELL GBP/USD AROUND 1.4300-1.4298 TGT 1.4280 1.4250 SL 1.4330
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