I have had to move my wordpress to a different directory. Trouble is now all the images are not showing as they are still pointing to the old directory.

Would I be able to enter some code to change all occurances of http://www.mysite.com/olddirectory/wp-content/uploads to http://www.mysite.com/wp-content/uploads ??

I would presume this would then only change the beginning of the image place holder link?