The main tendency for the GBP/USD pair remains bullish. As we see, the pair was moving within three bullish channels which are depicted on the chart.
At earlier hours of today, the GBP/USD pair broke the lower limit of the Violet channel reaching the lower limit of the Yellow one around 1.5580 which expressed a significant bullish price action pushing the pair to the upside once again.
The GBP/USD pair is currently testing the backside of the lower limit of the broken Violet channel and the midline of the Yellow one around price level of 1.5665 which should constitute Intraday Resistance level as well as a valid SELL entry with SL located above 1.5700.
TP levels should be located at 1.5580, 1.5545 then 1.5505.
