KLSE IForex Recommendations : Epic Research Malaysia

Trading Tips:
The GBP/USD pair trades -0.21% lower at 1.5205, recovering from session lows struck at 1.5182. The cable keeps losses this session as the greenback remained broadly higher, mainly benefiting from renewed sell-off in EUR/USD. The major halted its downslide near Friday’s lows and recovered slightly on improved risk-sentiment as the European stocks switched to gains ahead of the Euro zone final CPI data.However, any recovery in the GBP/USD pair appears short-lived as the overall bearish sentiment persists ahead of the key inflation report from the UK and the US due to be released tomorrow. The pair has an immediate resistance at 1.5263/66 (20-DMA/ Nov 13 high), above which 1.5292/1.5300 (50-DMA/ round number) would be tested. On the flip side, support is seen at 1.5185/82 (Nov 13 low/ Daily low) below which it could extend losses to 1.5150 (psychological levels).

RECOMMENDATION :
BUY GBP/USD ABOVE 1.5235 TARGET 1.5265 1.5300 SL 1.5200
SELL GBP/USD BELOW 1.5185 TARGET 1.5155 1.5100 SL 1.5220

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