GBPUSD Intraday Market Thought 23062010

Remeber last thoughts. " Below 1.5040 daily chart trend bearish medium and long term, and expect new lows first target around 1.40.

Short-term trend bullish above 1.4630.
We can have here a possible Bearish Head Shoulders. Breakout and close daily below 1.4630 expect test the lows around 1.43 first target and 1.40 second.

Short-term above 1.4630 trend bullish and if close again above 1.49 hourly chart expect 1.5032 (zone to open shorts = fibonacci important.

Click to zoom in. Good luck folks.

GBPUSD Daily Chart