KLSE IForex Recommendations : Epic Research Malaysia

Trading Tips:
GBP/USD is currently trading with a bearish bias. Yesterday, the pair retraced as previously forecasted but did not reach our target 1.4543. As long as the level 1.4543 protects the lower side, expect an upward momentum but should not go above 1.4706-1.4729. Ideally, we anticipate a possible rebound from the level 1.4706 or a break below 1.4543 to go short . In an alternative case scenario, should the pair break above 1.4729, then we expect an acceleration to the upper side. This pair should be traded alongside GBP/JPY, GBP/HKD and GBP/CHF. These pairs have a strong positive correlation of up to +0.89 and will have a similar price action during this intraday.

RECOMMENDATION :
BUY GBP/USD ABOVE 1.4510-1.4508 TGT 1.4490 1.4470 SL 1.4540
SELL GBP/USD ABOVE 1.4540 TGT 1.4560 1.4590 SL 1.4510

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