GBP-1.8836 18th May,2006 Pre-European Update. As expected Pound has tested our resistance and we have initiated a sell position at 1.8850. For now we would expect the currency to hold below 1.8855 for a steep decline towards 1.8700. So prefer holding our sell position for the above said target to be reached. Amend stop to entry on break below 1.8820.
Hold sell @ 1.8850 for 1.8750 min with stop above 1.8880.
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