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07.12.201109:45 Forex Analysis & Reviews: GBP/USD Intraday Technical analysis

Long-term review

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The spot rate is currently testing the intermediate resistance of its medium term bearish channel in 1.5650 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.5700.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5650 with a 1st objective of 1.5700, then 1.5720. A break in 1.5630 would invalidate this scenario.

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