FX.co ★ GBP/USD Intraday Technical analysis

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.5680 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 1.5680 with a 1st objective of 1.5740, then 1.5770. A break in 1.5660 would invalidate this scenario.