FX.co ★ GBP/USD Intraday Technical analysis

The spot rate came to test the upper limit of its medium-term bullish channel at 1.6430 and declined. It is now approaching its intermediate support at 1.6270 suggesting a rebound in the short term. However a break of these levels would entail a return to the lower limit of its channel to 1.5990.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6270 with a 1st objective of 1.6370, then 1.6430. A break in 1.6240 would invalidate this scenario.