Market structure analysis for the GBP/$: From a fundamental perspective, I still view the GBP economy as being on a firmer footing than the US, so continued up bias leads me to look for buy opportunities over sell. The GBP strength bias is demonstrated by the longer up channel; however, the shorter-term down channel is well built and cannot be ignored. I see an opportunity for a move south to square up areas below, to perhaps 1.6330, even back to 1.6240, before making a move up, but a test of the resistance zone at about 1.6465 is underway, and a break above will bring the up channel into clear view and target 1.6600. I continue to view the AUD economy as weakening relative to the US, so I will look to the GBP/AUD for even better trading opportunities.