FX.co ★ GBP/USD Intraday Technical analysis

The spot rate approaches the upper limit of its medium-term bearish channel to 1.6290 suggesting a decline. However a break of these levels would free up significant potential and initiate a new trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6290 with a 1st objective of 1.6380, then 1.6420. A break in 1.6270 would invalidate this scenario.