FX.co ★ GBP/USD Intraday Technical analysis

The spot rate is currently testing the upper limit of its medium-term bearish channel in 1.6040 suggesting a decline. However a break of these levels would free up 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 1.6040 with a 1st objective of 1.6140, then 1.6180. A break in 1.6010 would invalidate this scenario.