FX.co ★ GBP/USD Intraday Technical analysis

The spot rate is currently testing the upper limit of its medium-term downtrend channel 1.5480 suggesting a decline in the short term. However a break of these levels it would free up significant potential and begin an upward trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5480 with a 1st objective of 1.5560, then 1.5580. A break in 1.5450 would invalidate this scenario.