Tuesday, May 4, 2010
GBP/USD downside risk toward 1.4700
GBP/USD remains in a clearly defined 1.51 to 1.5550 range notes trader with its 21 DMA at 1.5340 continuing to be a pivot point. While below here the trader says there is a high probability of a downside break which would be a serious blow for sterling bulls as it opens downside risk toward 1.4700. GBP/USD now at 1.5184.
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