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While sterling hit a two month high to the dollar in yesterday’s early morning trading, it again failed to hold a break above the $1.52 level and saw renewed weakness against the generally stronger euro which continues to correct itself against a number of its counterparts. Although many analysts viewed this as simply a corrective pullback against the majors and positive risk sentiment, the Euro continues to retrace its losses with a test of 1.2700 (High) with the EUR/USD pair.
It is advised however that buyers proceed with caution, as the …

written by Trading Teacher