FX.co ★ GBP/USD Intraday Technical analysis

The spot rate is currently testing the upper limit of its short-term bearish channel in 1.6470 and seems to initiate a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.6640.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6470 with a 1st objective of 1.6570, then 1.6590. A break in 1.6440 would invalidate this scenario.