KLSE IForex Recommendations : Epic Research Malaysia

Trading Tips:
The Cable was highly volatile last week, reaching a high of 1.4319 and a low of 1.4004. The overall bias remains bearish in the near-term, though the bulls are not keeping their fingers crossed this time around. They would most probably effect a rally, which would jeopardize the current bearish bias, especially when the distribution territory at 1.4400 is overcome. This would require a strong rally, which would occur because the outlook on GBP pairs is bright for this week. GBP/USD is currently doing some corrective moves above the support zone of 1.4118, after a rebound that was made around the 1.4062 price level. The bullish move can be extended and the price could go towards the 200 SMA on the H1 chart, where a pullback can happen to resume the bearish bias. The MACD indicator is favoring the corrective scenario as it stays above the positive territory.

RECOMMENDATION :
BUY GBP/USD ABOVE 1.4227 TARGET 1.4147 1.4087 SL 1.4087
SELL GBP/USD BELOW 1.4140 TARGET 1.4120 1.4090 SL 1.4170

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