FX.co ★ GBP/USD Intraday Technical analysis

The spot rate is now testing the support level through its medium-term downtrend channel at 1.5880 suggesting a rebound on these levels. However a breakout of this zone will result in an acceleration toward the lower limit of the channel to 1.5770.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5880 with a 1st objective of 1.5980, then 1.6020. A breakthrough of 1.5850 will invalidate this scenario.