Transient bearish pressure has previously been applied around 1.4960-1.5000 (daily 38.2% Fibonacci level as well as previous weekly demand level).
Sideways movement with slight bearish tendency was expressed on the daily chart until a bullish breakout took place above 1.4970-1.5000 (via a Full-body bullish candlesticks).
Persistence above the zone of 1.5000-1.5080 exposes the weekly supply zone at 1.5500-1.5550 (also corresponding to weekly 50% Fibonacci level).
On the other hand, the recent demand zone between 1.5000 and 1.5080 (daily 38.2% and 50% Fibonacci levels) will probably offer a valid long-term buy entry as soon as retesting takes place
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Intraday technical levels and trading recommendations for GBP/USD for April 30, 2015 . Thanks for your support.
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