KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5192 during European morning trade, the session high; the pair subsequently consolidated at 1.5162.Data showed that the Markit/CIPS Services Purchasing Managers Index increased to 57.2 last month from a reading of 55.8 in December. Analysts had expected the index to rise to 56.3 in January.Commenting on the report, Chris Williamson, Chief Economist at survey compilers Markit said, “The January PMI surveys signalled a reassuringly robust start to the year for the UK economy, indicating a quarterly rate of GDP growth just over 0.5%.”The report came one day after Markit and the Chartered Institute of Purchasing & Supply said that their U.K. construction PMI increased to 59.1 last month from a reading of 57.6 in December.



INTRADAY OUTLOOK
Support: 1.5136
Resistance: 1.5225

RECOMMENDATION:
1. Buy GBP/USD Above 1.5227-TG: 1.5257/1.5287 SL 1.5197
2. Sell GBP/USD Below 1.5134-TG: 1.5114/1.5084 SL 1.5164

INTRADAY OUTLOOK
Immediate Support: 1.1418
Immediate Resistance: 1.1492

RECOMMENDATION:
1. Buy EUR/USD Above -1.1494 TG: 1.1514/1.1544 SL 1.1464
2. Sell EUR/USD Below -1.1416 TG:1.1396/1.1366 SL 1.1446