KLSE IForex Recommendations : Epic Research Malaysia

Trading Tips:
GBP/USD is currently trading with a strong bullish bias. Yesterday, the pair traded short as previously forecasted but ended up closing a few pips from our first target 1.4575. Currently, this pair is pretty much bullish and may break above 1.4706, but should not close above 1.4818. In the meantime, we are waiting for a clear breakout above 1.4729 to give us the green light to continue to the upper-side. This view can only be invalided should the price end up rebounding from 1.4729. A rebound from this resistance level will lead to an acceleration to the lower side but should not go below 1.4480. This pair should be traded alongside GBP/CHF, and GBP/JPY. These pairs have a strong positive correlation and will thus have a similar price action during this intraday.

RECOMMENDATION :
BUY GBP/USD AROUND 1.4565-1.4568 TGT 1.4598 1.4628 SL 1.4535
SELL GBP/USD BELOW 1.4540 TGT 1.4520 1.4490 SL 1.4570

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