By FXEmpire.com
The GBP/USD pair had a horrible week as the risk off trade is certainly back in the markets. The 1.53 level is massive support, so we think a bounce could be coming. The breaking of this level would suggest that the market is falling much farther. We are literally at a point where one bad headline could send this pair much lower. If this pair breaks down, we think the market could try to find 1.42 before it is all said and done. Any rallies will be sold on the first sign of trouble for the bulls.
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Originally posted here
