KLSE IForex Recommendations : Epic Research Malaysia

Trading Tips:
The GBP/USD pair halted its 2-day rally and reverted to the red zone in the European session, as risk-aversion was rife amid renewed weakness in the European indices. The GBP/USD pair trades 0.71% lower at 1.4417, hovering within a striking distance of the 1.44 handle. Having peaked at 1.4564 levels in early Asia, the GBP/USD pair continues to inch lower, with selling pressure intensifying over the last hours as the European equities resumed the downtrend and sparked renewed risk-aversion wave across Europe. The UK’s FTSE drops -2.63%, while the pan-European benchmark, the Euro Stoxx slumps over -3.30%.Markets are giving up higher-yielding currencies such as the GBP in favour of safe-haven assets like the yen, in a bid to protect their capital amid ongoing global sell-off. In the day ahead amid a lack of fundamental triggers, the oil price action and sentiment on the equities will drive the cable.

RECOMMENDATION :
BUY GBP/USD ABOVE 1.4470 TARGET 1.4490 1.4520 SL 1.4440
SELL GBP/USD BELOW 1.4395 TARGET 1.4375 1.4345 SL 1.4425

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