GBPUSD Intraday Pivot Levels for 08/10/2015

The GBP/USD 5-minute chart clearly shows the technical significance of the 1.5478 price level. This area has been used as both - support and resistance - since the markets opened on Sunday. The pair is currently trading above this price level, so this pivot zone is likely to now act as support, if the market descends to this level over the next 24 hours.