FX.co ★ GBP/USD Intraday Technical analysis

The spot rate is currently testing the upper limit of its medium-term bullish channel at 1.6085 suggesting a decline in the short term. However a break of these levels would release a significant upside potential.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6085 with a 1st objective of 1.6160, then 1.6180. A break in 1.6060 would invalidate this scenario.