FX.co ★ GBP/USD Intraday Technical analysis

The spot rate is currently testing the intermediate resistance of its medium term bearish channel at 1.6110. However as a break of the channel has not made the upside potential limited.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6160 with a 1st objective of 1.6260, then 1.6300. A break in 1.6130 would invalidate this scenario.