GBP/USD Technical Analysis for July 6, 2011

We got a breakdown of the shooting star on Tuesday, and if you were quick, you made good money. However, the 1.60 proved to be too supportive for the bears, and we bounced. However, we feel bearish about this pair over the long run, and days like this just make us want to sell rallies all the more. A break below 1.59 is needed for a long-term sell.

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