Wednesday, July 30, 2014

Trade Idea Wrap-up: GBP/USD - Sell at 1.7000

Cable's intra-day selloff on dollar's broad-based rally signals recent decline from 1.7192 top is still in progress for retracement of early upmove and further weakness to 1.6870-80 and possibly 1.6850 cannot be ruled out, however, near term oversold condition should limit downside to 1.6820-25 and reckon 1.6800 would hold, risk



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