GBP/USD fell like a stone on Friday to retest the 1.58 level. The area was the site of a breakout recently, and is now looking like a serious decision point. The next 100 pips in this pair are going to be vital. If we can find support - this is a great place to buy. If the 1.57 gives way, this pair falls hard.
The EUR/USD pair fell during the Friday session, but found a bit of support at the 1.25 handle. However, the pair itself looks weak, and we think the pair is somewhat limited to the upside.
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