KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5586 during European morning trade, the pair’s highest since December 23; the pair subsequently consolidated at 1.5573, adding 0.10%.The dollar remained broadly supported after final data last week showed that U.S. gross domestic product rose 5.0% in the third quarter, exceeding expectations for a growth rate of 4.3% and up from 3.9% in the three months to June.The strong data fuelled further optimism over the strength of the U.S.economic recovery and added to expectations for the Federal Reserve to raise interest rates next year. The pound found some support after data on Friday showed that U.K. GDP rose 0.7% in the third quarter, in line with expectations and down from a 0.8% growth rate in the three months to June.


INTRADAY OUTLOOK
Support: 1.5520
Resistance: 1.5586

RECOMMENDATION:
1. Buy GBP/USD Above 1.5588-TG:1.1.5608/1.5638 SL 1.5558
2. Sell GBP/USD Below 1.5517-TG:1.1.5497/1.5467 SL 1.5547

INTRADAY OUTLOOK
Immediate Support: 1.2163
Immediate Resistance: 1.2224

RECOMMENDATION:
1. Buy EUR/USD Above 1.2226-TG:1.2246/1.2276 SL 1.2196
2. Sell EUR/USD Below 1.2160-TG:1.2140/1.2110 SL 1.2190