TRADING TIPS :
GBP/USD hit 1.5198 during European morning trade, the session high; the pair subsequently consolidated at 1.5194.Investors were looking ahead to the outcome of Wednesday’s Fed meeting, with the bank expected to stick to its pledge to be patient on tightening monetary policy.Markets shrugged off data on Tuesday showing that U.K. gross domestic product expanded by 0.5% in the final three months of 2014, below forecasts for growth of 0.6%.Year-over-year, U.K. economic growth grew 2.7% in the three months ending December, missing expectations for a gain of 2.8%.A separate report showed that U.K. mortgage approvals dropped to a 20-month low of 35,700 last month from November’s total of 36,700.
INTRADAY OUTLOOK
Support: 1.5136
Resistance: 1.5241
RECOMMENDATION:
1. Buy GBP/USD Above 1.5243-TG: 1.5263/1.5293 SL 1.5213
2. Sell GBP/USD Below 1.5133-TG: 1.5113/1.5083 SL 1.5163
INTRADAY OUTLOOK
Immediate Support: 1.1325
Immediate Resistance: 1.1421
RECOMMENDATION:
1. Buy EUR/USD Above -1.1423 TG: 1.1443/1.1473 SL 1.1393
2. Sell EUR/USD Below -1.1323 TG:1.1303/1.1273 SL 1.1353
