FX.co ★ GBP/USD Intraday Technical analysis

The spot rate approaches the intermediate resistance of its medium-term bullish channel at 1.6300 suggesting a decline in the short term. However a break of these levels would reach the upper limit of its channel at 1.6400.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6300 with a 1st objective of 1.6400, then 1.6440. A break in 1.6270 would invalidate this scenario.