KLSE IForex Recommendations

TRADING TIPS :

 GBP/USD hit 1.5150 during European morning trade, the pair’s highest since Wednesday; the pair subsequently consolidated at 1.5134, gaining 0.30%.In a report, the U.K. Office for National Statistics said that manu- facturing production rose 0.7% in November, beating expectations for a 0.3% gain, after a 0.7% fall the previous month.On the other hand, U.K. industrial production ticked down 0.1% in November, data showed on Friday, confounding expectations for an increase of 0.2%. October’s figure was revised to a 0.3% slip from a previously estimated 0.1% fall.A separate report showed that the U.K. trade deficit narrowed to £8.85 billion in November from £9.84 billon in October, whose figure was revised from a previously estimated deficit of £9.62 billion. Analysts had expected the trade deficit to narrow to £9.40 billion in November.

INTRADAY OUTLOOK
Support: 1.5111
Resistance: 1.5185

RECOMMENDATION:
1. Buy GBP/USD Above 1.5187-TG: 1.5207/1.5237 SL 1.5157
2. Sell GBP/USD Below 1.5109-TG: 1.5089/1.5059 SL 1.5139

INTRADAY OUTLOOK
Immediate Support: 1.1805
Immediate Resistance: 1.1866

RECOMMENDATION:
1. Buy EUR/USD Above -1.1868 TG: 1.1888/1.1918 SL 1.1838
2. Sell EUR/USD Below -1.1802 TG:1.1782/1.1752 SL 1.1832