TRADING TIPS :
GBP/USD hit 1.5043 during European mornning trade, the pair’s highest since January 22; the pair subsequently consolidated at 1.5011, adding 0.13% Cable was likely to find support at 1.4947, the low of January 22 and an 18- month low and resistance at 1.5212, the high of January 22.Market sentiment was hit as Syriza’s victory sparked concerns over Greece’s future in the euro zone. The pound edged up against the U.S. dollar on Monday, but remained within close distance of recent 18-month lows as market sentiment weakened broadly following Greek anti-austerity Syriza party’s election win on Sunday. The pound shrugged off data on Friday showing that U.K. retail sales rose 0.4% in December, beating expectations for a 0.6% decline, after a 1.6% increase the previous month.
INTRADAY OUTLOOK
Support: 1.4941
Resistance: 1.5002
RECOMMENDATION:
1. Buy GBP/USD Above 1.5006-TG: 1.5026/1.5056 SL 1.4976
2. Sell GBP/USD Below 1.4937-TG: 1.4917/1.4887 SL 1.4967
INTRADAY OUTLOOK
Immediate Support: 1.1147
Immediate Resistance: 1.1218
RECOMMENDATION:
1. Buy EUR/USD Above -1.1222 TG: 1.1242/1.1272 SL 1.1192
2. Sell EUR/USD Below -1.1146 TG:1.1126/1.1096 SL 1.1176
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