KLSE IForex Recommendations : Epic Research Malaysia

Trading Tips:
The pound slipped lower against the U.S. dollar on Wednesday, after data showed that U.K. service sector activity contracted for the first time in more than three years and as investors eyed the Bank of England’s policy meeting on Thursday. GBP/USD hit 1.3287 during European morning trade, the session low; the pair subsequently consolidated at 1.3334, edging down 0.17%.Cable was likely to find support at 1.3169, the low of August 2 and resistance at 1.3480, the high of July 15.Research group Markit said its U.K. services purchasing managers’ index dropped to 47.4 last month from a reading of 52.3 in June. It was the lowest level since December 2012.The weak data added to expectations for a rate cut by the BoE at its policy meeting on Thursday.

RECOMMENDATION :
BUY GBP/USD ABOVE 1.3370 TGT 1.3390 1.3430 SL 1.3340
SELL GBP/USD BELOW 1.3160 TGT 1.3130 1.3100 SL 1.3190

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