FX.co ★ GBP/USD Intraday Technical analysis

The spot rate approaches the upper limit of its medium term bearish channel in 1.6460 suggesting a decline. However a break of these levels would release 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 1.6460 with a 1st objective of 1.6560, then 1.6590. A break in 1.6430 would invalidate this scenario.