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The GBP/USD pair rose during the balance of the week, but closed below the 1.65 handle. However, in the slow liquidity environment we aren’t reading too much into this, and still believe that the market ultimately wants to go higher. Pullbacks to show signs of support will be used in order to take advantage of value, and thereby getting us to enter the market to the upside. Selling is not a possibility at this point, as we believe the 1.60 level will continue to keep the market elevated.
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