Tuesday, May 27, 2014

Trade Idea Update: GBP/USD - Stand aside

Despite intra-day brief bounce to 1.6882, current sharp retreat in part due to the release of soft UK data suggests further consolidation would be seen and near term downside risk remains for weakness to 1.6802-04 (previous support and 61.8% Fibonacci retracement of 1.6732-1.6921), however, downside should be limited to 1.6780



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