Join Date: May 2003
Location: Northern Ireland
Bikes: Giant XtC SE3 Bianchi Gold Race 600 Triple Barracuda Overload
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May also be your rear hub, my old FS had a worn rear hub to the point where it wouldnt even click when freewheeling, and the rear wheel would move about 2-3cms either side if you shook it with your hand.
Id say take it to your LBS asap, i was told to ride as little as possible on my bike when that happened.