What does 'it' refer to in this sentence?
Water will tend to leak from a pipe with equal facility in any direction and not just in the direction of the weight of the head of water bearing down on it.
the pipe
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You've asked this kind of question before.
Ask yourself whether "it" is referential or just a dummy.
If it's referential, which noun phrase is the most likely referent? "Water", perhaps, or "pipe"?