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Friday, June 5, 2009

GBPUSD pressure on 1.61


This can sometimes be a nice break to watch for. See the downward pressure being applied to the 1.61 level? Watch for a steady move on a break downward. There might be some resistance at 160.81, could possibly bounce, but more often than not, it should make a move down. Remember, profit is profit. Looks like it is breaking now, but just keep an eye on it.

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