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GBP/JPY selling weighing on sterling

By   || July 5, 2009 at 21:46 GMT
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It seems that there have been a few GBP/JPY flows this morning with model funds being blamed. These guys usually trade off super-sophisticated black-box proprietary systems (like moving average cross-overs!). A quick analysis of the daily chart points to us being in a consolidative phase at the moment. [Chart to come].

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