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19/03/2014: I have just sold GBP/USD @ $1.66221

I view this push higher as a chance to sell.

There is a sequence of lower highs on Cable now with the latest at $1.66470. The hourly RSI is back to a level where the sellers have returned within this decline. I expect the dollar strength to resume and drag Cable back to retest yesterday’s low at $1.6543.

I have placed my stop at $1.66570 (35 pips) a bit of room above the $1.66470 reaction high.

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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.