GBP/USD broke the uptrend line existing since May 2010 to June 2011 with successful retest of its backside.
GBP/USD currency pair has a strong weekly support zone 1.5900-1.5775 which is breached till now.
The next obvious demand zone is 1.5600-1.4350 which in case visited by the pair in the current decline, will be significant in supporting the pair.
It's important to mention that 50% Fibonacci level of the giant swing from 1.4226-1.6745 is located withing this zone at 1.5500.
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Yesterday daily candlestick came bearish indicating weakness of bulls and domination of the bears even after this long rally to the downside.
Breaking this zone 1.5900-1.5775, opens the way down to the next demand zone ( support ).
This next Demand zone 1.5600-1.5440 is obvious on the daily chart which also contains Fibonacci level at 1.5500.
Based on the previous analysis, There's a swing bullish opportunity at the best prices of this zone with SL daily closure below 1.5440.
TP should be 1.5680, 1.5800 then 1.5900.
For intraday traders, more detailed analysis will be done as soon as the price visits this zone.
