Wednesday, May 28, 2014

Trade Idea Update: GBP/USD - Sell at 1.6780

As cable's decline has gathered momentum and broke below previous support at 1.6732, adding credence to our view that top has been formed at 1.6996 earlier and downside bias remains for the decline from there to bning further weakness to 1.6708 (1.618 times projection of 1.6921-1.6813 measuring from 1.6882), then



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