05/02/2014: SOLD GBP/USD at $1.63142

The rally has returned Cable to the downtrend resistance on the hourly chart, I took this as a chance to sell.

My target is a retest of today’s low at $1.6350 (64.2 pips)

I have placed my stop at $1.6345 (31 pips) which is just above yesterday’s high at $1.6344

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