FX.co ★ GBP/USD Intraday Technical Analysis (Linear Regression Channel) for April 12, 2012

GBP/USD Linear regression channel for the hourly chart gives the following data :
The GBP/USD currency pair has been trading within a wide range slightly bullish Yellow channel for the past three days.
Since the moment GBP/USD managed to fixate above 1.5888, it gathered bullish strength pushing to the upside towards the upper limit of the Yellow channel at 1.5965.
Price levels 1.5965 and 1.6000 stand as Solid Intraday Resistance levels which are worth watching today for a possible valid low risk SELL entry.
SL is to be located above 1.6030. Targets are open to be determined according to strength of the coming movement.