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GBP/USD saw a huge drop in Asian trade

GBP/USD saw a huge drop in Asian trade

 

The GBP/USD saw a huge drop in Asian trade Friday, which some think was sparked by algorithmic trading programs.  On some platforms the pair dropped all the way to the 1.1800 level, but by the end of the trading day most of the losses had been recovered. 

Still, the pair closed near the 1.2400 level and looks as if it is prepared to fall further.  In Monday’s Asian session the pair is trading lower already, though losses so far are small.

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