The 4H chart shows the pair bouncing off a 61.8% retracement level. Momentum has been ranging, but there is a slight bearish bias looking at the RSI levels in the 4H chart. The 1H RSI broke below 40 reflecting momentum of the current bearish attempt. The 1H chart shows that
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GBP/JPY Stalking Pullback for Confirmation
– July 12, 2010Posted in: Forex Technical Analysis