It was a strange week for sterling. Monday was touted as the first day of a full scale rout but today (Friday) sees cable not much lower than where it was at the end of last week. It looks like Monday might have been just the final blow-off of the 61.8% retracement of the 1.35-1.70 bounce. Price action from the base was chaotic, down two big figures and back up one in the space of 15 minutes.
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