The discharge signal in the initial stage of lightning is weak. The revelation of the discharge mechanism at this stage depends especially on close observation. In this study, a continuous interferometer (CINTF) was used to observe the initial stage of the upward positive leader (UPL) of the triggered lightning in Conghua District, Guangzhou City, Guangdong Province. The positioning error of CINTF for a close-range radiation source was analyzed, and the positioning error calibration method of CINTF for a specific close-range radiation source was studied, which improved the observation accuracy of elevation angle at the initial stage of the UPL of the triggered lightning. With the rise of the rocket, the positioning error in altitude during the initial stage of the UPL increased obviously. Under the layout condition of the Guangzhou field experiment site for lightning research, when the positioning results of the elevation angle of the initial stage of the UPL were 40°, 50°, and 60°, respectively, the calibrated altitude positioning error could be reduced by about 11 m, 14 m, and 20 m, respectively. On the basis of the calibrated observation results, the evolution characteristics of the initial stage of the UPL were studied, and its discharge mechanism was revealed. The precursor current pulse (PCP) was generated by a weak upward positive breakdown and a subsequent strong downward negative breakdown near the rising rocket tip, which was in the form of a single pulse. The precursor current pulse cluster (PCP cluster) and initial precursor current pulse cluster (IPCP) were both signs of self-sustaining development of the UPL. After the PCP cluster, self-sustaining development stopped immediately. The self-sustaining development after IPCP could be short-term or continuous.