KLSE IForex Recommendations : Epic Research Malaysia

Trading Tips
The GBP/USD pair trades 0.13% higher at 1.4468, having reached fresh session highs at 1.4475 last minutes. The GBP bulls regained lost momentum and returned to the positive territory as the risk-on trades dominate Europe on the back of rising European equities. Hence, the persisting risk-sentiment boosts the demand for risk currencies such as the GBP. Moreover, the solid rebound seen in the oil prices on impressive Chinese crude imports, lifts the energy stocks on the UK’s benchmark index, the FTSE 100 and therefore, boosts the sentiment around the cable. The FTSE rallies 1.09% to 5,994. Looking ahead, amid a lack of fresh fundamental triggers for the major later today, markets will closely monitor developments around the oil markets, while the sentiment on the Wall Street will also play a crucial role.

RECOMMENDATION :
BUY GBP/USD ABOVE 1.4480 TARGET 1.4550 1.4580 SL 1.4500
SELL GBP/USD BELOW 1.4440 TARGET 1.4420 1.4390 SL 1.4470

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