GBP/USD Technical Analysis for July 20, 2011

The GBP/USD pair rose on Tuesday, but looked oddly weak in the later part of the session. In fact, at the time of this writing, it appears that the pair is only going to be slightly changed at the end of the day – quite a statement after rising so quickly earlier. Because of this, we are still bearish of this pair, but need to see a close below the 1.59 level on the daily chart to sell.

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Forex Mansion