GBP/USD Hourly chart on the basis of the Linear Regression Channels of three different time periods:
The GBP/USD pair expressed a strong bullish rejection towards the lower limit of the Yellow & Blue channels around 1.5920 which pushed the pair towards 1.6030 corresponding to the upper limit of the Yellow one where bearish domination was expressed during the last few hours of Friday.
The GBP/USD was trading within the depicted Yellow channel although Yesterday's Violet channel is slightly bearish due to the expected bearish movement towards 1.5960 which was expected Yesterday.
The GBP/USD pair seems to be finding intraday Resistance at 1.6030. That's why breakdown of the lower limit of the Yellow channel around 1.5990 opens the way directly towards 1.5955 then probably 1.5910.
Breakthrough above intraday Resistance 1.6030 opens the way towards the upper limit of the channel around price level of 1.6095.
