KLSE IForex Recommendations : Epic Research Malaysia

Trading Tips:
The pound trimmed losses against the U.S. dollar on Thursday, after the release of strong U.K. retail sales data, although the Federal Reserve’s decision to raise interest rates on Wednesday continued to support the greenback.GBP/USD eased off 1.4920, the pair’s lowest since December 3, to hit 1.4966 during European morning trade, still down 0.23%. Cable was likely to find support at 1.4902, the low of December 3 and resistance at 1.5102, Wednesday’s high.The U.K. Office for National Statistics reported that retail sales increased by 1.7% last month, blowing past forecasts for a gain of 0.5%. Retail sales in October fell by 0.5%, whose figure was revised from a previously reported decline of 0.6%. Year-on-year, retail sales rose at a rate of 5.0% in November, easily surpassing expectations for a 3.0% gain, after rising at a rate of 4.2% a month earlier.

RECOMMENDATION :
BUY GBP/USD ABOVE 1.4970 TARGET 1.4990 1.5020 SL 1.4940
SELL GBP/USD BELOW 1.4920 TARGET 1.4900 1.4870 SL 1.4950

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