GBP/USD - Inside upward channel
After rebound on January from 6-years low, GBP/USD continues upward movement. For two weeks, it has moved in a bullish regression channel. Before new uptrend impulse occurs, it is likely that price will move to the lower limit of that channel (area 1.4200). Further upward movement should be continued - current rebound didn't reach even a basic Fibonacci 38,2% level (area 1.4520) of previous downward movement.
Nearest important resistance is located at 1.4600; if demand breaks it, next target will be at 1.4850. It should be noted that previous analysis GBP/USD gave 150 pips profit. I wrote: "today price returned above 1.4250 and nearest target for upward movement is 1.4400."
Time-frame H4:
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