FX.co ★ GBP/USD Intraday Technical analysis

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.5705 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5705 with a 1st objective of 1.5770, then 1.5790. A break in 1.5690 would invalidate this scenario.