KLSE IForex Recommendations : Epic Research Malaysia

Trading Tips:
The pound rose against the U.S. dollar on Friday, easing off an eight-month low as investors digested the Federal Reserve’s decision to raise interest rates on Wednesday. GBP/USD hit 1.4950 during European morning trade, the session high; the pair subsequently consolidated at 1.4934, rising 0.21%.Cable was likely to find support at 1.4861, Thursday’s low and an eight-month low and resistance at 1.5003, Thursday’s high.The dollar had strengthened broadly after the Fed raised interest rates by a quarter of a percentage point to between 0.25% and 0.50% at the conclusion of its two-day policy meeting on Wednesday. It was the first rate hike in the U.S. since 2006.Meanwhile, the pound remained mildly supported after the U.K. Office for National Statistics reported on Thursday that retail sales increased by 1.7% last month, blowing past forecasts for a gain of 0.5%.

RECOMMENDATION :
BUY GBP/USD ABOVE 1.4930 TARGET 1.4950 1.4980 SL 1.4910
SELL GBP/USD BELOW 1.4900 TARGET 1.4880 1.4850 SL 1.4930

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