GBP/USD Bearish below 20 SMA
January 30th, 2011
With current 4 hours candle opening below 20 SMA, and indicators heading south, although momentum is still above the 100 line, pair has turned intraday bearish. Daily low is locates at 1.5852, yet only below 1.5840 pair can resume its bearish trend, heading towards the 1.5750 price zone, strong support, as per weekly low and 200 EMA both around that price.
Pair can change short term bias only above 1.5920, aiming to retest then, the 1.5960/80 price zone.
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