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After one of the most volatile weeks in living memory GBP was left teetering on the edge of

a potential abyss. The 1.65/1.70 area is a key level of support for the currency

and as long as GBP can hold these levels then it has the potential to recover some of its

recent losses. However, the next few weeks will be crucial in deciding the long term

prospects for the currency as a loss of the 1.65/1.70 area could prove very negative for the

currency in the long term.

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