GBPUSD: With a failure at the 1.5052 level reversing most of the intra day gains to close slightly lower on Monday at 1.4833, risk of further weakness is expected towards the 1.4473 level, its May 07'10 low. Unless a return above the 1.5052 level occurs, this view remains valid. Below the 1.4473 level will pave the way for a run at its April'09 low at 1.4396 and even lower. Its larger time frame charts are supportive of this view. On the upside, above the 1.5052 level will open the door for additional strength towards the 1.5127/25 levels followed by the 1.5389 level and then its April 15'10 high at 1.5521. Beyond that level will resume its recovery towards the 1.5574 level, its Feb 23'10 high and then the 1.5814 level, its Feb 17'10 high.

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