GBPUSD broke above 1.2883 resistance. Further rally towards the falling trend line on the 4-hour chart is possible, and a breakout of the trend line would indicate that the downside movement from 1.3174 had completed at 1.2723 already, then the following upside movement could take the price to 1.3200 area. On the downside, as long as the trend line resistance holds, the bounce from 1.2723 would possibly be consolidation for the downtrend and another fall towards 1.2600 is possible after the consolidation.
