FX.co ★ GBP/USD Intraday Technical analysis

The spot rate has rebounded on the lower limit of its medium-term bullish channe at 1.6450 and is currently testing the intermediate resistance of its channel at 1.6590. A break of these levels would reach the upper limit of its medium-term bearish channel to 1.6740.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6590 with a 1st objective of 1.6690, then 1.6740. A break in 1.6560 would invalidate this scenario.