FX.co ★ GBP/USD Intraday Technical analysis

The spot rate is currently testing the intermediate support of its medium term bearish channel in 1.5850 suggesting a rebound. However a break of these levels would entail a return to the lower limit of its channel to 1.5700.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5850 with a 1st objective of 1.5950, then 1.6000. A break in 1.5820 would invalidate this scenario.