KLSE IForex Recommendations : Epic Research Malaysia

Trading Tips:
The pound extended early gains against the dollar and the euro on Thursday after data showing that U.K. retail sales jumped in April, despite a steep drop in clothing sales which may have been due to unseasonable weather.The Office for National Statistics said retail sales rose 1.3% in April, well above economists’ forecasts for an increase of 0.5%. March’s figures were revised to show a 0.5% drop, a much smaller decline than the initial estimate of a fall of 1.3%. Retail sales volumes were up 4.3% on a year over-year basis, the report said. Sales of most items surged, but clothing sales fell by 6.3% the ONS said, perhaps due to cold weather in April, which hit sales of summer clothes.GBP/USD was up 0.32% at 1.4645 from around 1.4626 ahead of the report.

RECOMMENDATION :
BUY GBP/USD ABOVE 1.4700 TGT 1.4720 1.4750 SL 1.4670
SELL GBP/USD AROUND 1.4696-1.4693 TGT 1.4673 1.4643 SL 1.4726

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