FX.co ★ GBP/USD Intraday Technical analysis

The spot rate has bounced on the lower limit of its medium term bearish channel in 1.6220 and approach to the intermediate resistance of this one to 1.6320. A break of these levels would allow it to reach the upper limit of the channel to 1.6420.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6320 with a 1st objective of 1.6420, then 1.6450. A break in 1.6290 would invalidate this scenario.