Which way up does this bit go? Fulmer loose ring snaffle

GinaGem

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I think it's this way judging by the writing on the bit and the picture in the catalouge i bought it from:

FulmerSnaffle2.jpg


But when i googled it there were pictures of it up this way too:

211953.jpg
 
Is that to keep the bit keepers on do you think, that was the only purpose of the bend i could think of?!
 
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