FX.co ★ GBP/USD Intraday Technical analysis

The spot rate is currently testing the upper limit of its medium-term bearish channel in 1.5630 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 1.5630 with a 1st objective of 1.5690, then 1.5720. A break in 1.5610 would invalidate this scenario.