GBPUSD – Threatening To Recapture The 1.4718 Level

With a failure at 1.5044 turning the pair sharply lower on Wednesday and following through to the downside in early trading today, spotlight is now on the 1.4718 level, its May 11′10 low. On a clean violation of that level, will set the stage for a return to the 1.4473 level, its 2010 low. Unless a return above the 1.5052/1.5127/25 levels occurs, this view remains valid.
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