KLSE IForex Recommendations : Epic Research Malaysia

Trading Tips:
The pound fell to the lowest levels in five-and-a-half years against the dollar on Thursday as market turmoil in China bolstered safe haven demand for the dollar, while uncertainty over a U.K. referendum on European Union membership also weighed. GBP/USD hit lows of 1.4555, the lowest level since June 2010 and was last at 1.4564, off 0.46% for the day.Risk sentiment was hit after China’s yuan weakened further on Thursday, exacerbating fears over the outlook for the world’s second-largest economy. The People’s Bank of China set its official yuan mid-point rate lower compared with Wednesday’s fix.It was the largest daily drop in the midpoint rate since last August, when an unexpected near 2% devaluation of the currency sparked a broad based selloff in financial markets. A weaker yuan would help boost Chinese exports.

RECOMMENDATION :
BUY GBP/USD ABOVE 1.4600 TARGET 1.4620 1.4650 SL 1.4570
SELL GBP/USD BELOW 1.4560 TARGET 1.4540 1.4510 SL 1.4590

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