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GBPUSD Trade Idea (October 11, 2013)

I believe that we are still in retracement mode by expecting further downward pressure for GBPUSD and any other pair against US Dollar. Some consideration for downward pressure in next week are :

1. GBP CPI y/y

2. GBP PPI Input m/m

3. GBP Retail Sales m/m

Therefore, I still believe that GBPUSD still has bearish continuation that reflected with open position I already traded. Currently shorting GBPUSD at 1.59681 SL 1.60600 TP 1.57310.

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