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12/02/2014: I have just SOLD GBP/USD @$1.66128

There has been a decisive breakdown of the support at $1.6581 today. In the least this opens the 50% Fibonacci retracement of $1.6250/$1.6822 at $1.6536.

The outlook across both daily and hourly charts suggests the dollar is strengthening now and that rallies should be sold into.

I have placed by stop at $1.66550 (43 pips) which is above the key intraday reaction high at $1.66530

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At Hantec Markets Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.