Sell on a level breakthrough of 1.5259 with 1.5165 target. Stop loss = 1.5310.
Reason for the trading strategy
The British currency remained under pressure after the publication of insufficiently strong data on the UK GDP for Q1 2015. In the reporting period, the indicator increased by 0.3% (q/q), being lower than the forecast of +0.4% (q/q). At a breakthrough of the 1.5259 support level, opening short positions in the pound is worth considering
February 17, 2017 US dollar poised to end the weak on a bearish note
The US economic data continued to post strong gains with building permits and Philly Fed manufacturing index beating expectations strongly. However, the markets were not quite impressed despite the data points supporting the hawkish Fed for more rate hikes...
February 17, 2017 Brent remained rather unchanged
There seems to be little drive for any real direction now. Brent remained rather unchanged on Thursday staying in a tight range above 55.50 dollars per barrel. The Asian upward impetus lost it legs when European markets opened...
February 16, 2017 U.S. dollar remained near its fresh highs
After touching the level 1.0550 the euro bounced off and was able to reverse a minor part of its losses. The overnight’s recovery attempt stalled just under 1.0600 barrier. The pair came under renewed selling pressure and slipped into negative territory in the late Asian session...
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