02.12.201111:03 Forex Analysis & Reviews: GBP/USD Intraday Technical analysis

Long-term review

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The spot rate is currently testing the upper limit of its medium term bearish channel in 1.5740 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 1.5740 with a 1st objective of 1.5820, then 1.5850. A break in 1.5720 would invalidate this scenario.

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