KLSE IForex Recommendations : Epic Research Malaysia

Trading Tips
The pound edged higher against the U.S. dollar on Tuesday, even after data showed that public sector net borrowing rose more-than-expected last month as demand for the greenback slightly weakened ahead of a U.S. economic growth report due later in the day. Trading volumes were expected to remain limited ahead of the Christmas Holiday. GBP/USD hit 1.4930 during European morning trade, the session high; the pair subsequently consolidated at 1.4893, easing up 0.09%.Cable was likely to find support at 1.4861, the low of December 17 and resistance at 1.5003, the high of December 17. The U.K. Office for National Statistics reported that public sector net borrowing rose to £13.56 billion in November from £6.75 billion in October, whose figure was revised from a previously estimated £7.47 billion.Analysts had expected public sector net borrowing to rise to £11.00 billion last month.

RECOMMENDATION :
BUY GBP/USD ABOVE 1.4900 TARGET 1.4920 1.4950 SL 1.4870
SELL GBP/USD BELOW 1.4870 TARGET 1.4850 1.4820 SL 1.4900

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