Neutral

Selling at 1.0509 as this pair broke below support (50-ma on hourly chart). IMF headlines just out suggest that Greece bailout talks have stopped on a lack of progress. Equity markets are getting hit also. We expect the pair will likely fall to the stop-loss and we are much better off selling here for a lesser loss -14 pips. Quick whipsaw is not ideal but we will be aggressive with our management of the trade.

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