Friday, 11 December 2015

KLSE IForex Recommendations : Epic Research Malaysia

Trading Tips:
The pound was almost unchanged at three-week highs against the U.S. dollar on Thursday, even after data showed that he U.K. trade deficit widened much more than expected in October, as investors awaited the Bank of England’s policy decision later in the day.GBP/USD hit 1.5196 during European morning trade, the pair’s highest since November 20; the pair subsequently consolidated at 1.5178.Cable was likely to find support at 1.5075, the low of December 4 and resistance at 1.5248, the high of November 18. The U.K. Office for National Statistics reported that the country’s trade deficit widened to £11.83 billion in October from £8.8 billion the previous month. Economists had expected the trade deficit to widen to £9.7 billion in October. The U.S. dollar rallied to 11-/12 year highs against other major currencies earlier in the week after Friday’s strong U.S. employment data added to expectations that the Fed will hike interest rates for the first time since 2006.

RECOMMENDATION :
BUY GBP/USD ABOVE 1.5190 TARGET 1.5170 1.5140 SL 1.5160
SELL GBP/USD BELOW 1.5160 TARGET 1.5140 1.5110 SL 1.5190

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