FX.co ★ GBP/USD Intraday Technical analysis

The spot rate is currently testing the upper limit of its medium term bullish channel in 1.6020 suggesting a decline. However a break of these levels would free up significant potential and initiate a bullish trend more violent.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6020 with a 1st objective of 1.6120, then 1.6150. A break in 1.5990 would invalidate this scenario.