GBPUSD is facing the resistance of the bearish trend line on the 4-hour chart. As long as the trend line resistance holds, the bounce from 1.3003 could be treated as consolidation for the downtrend from 1.3381, another fall towards 1.2900 is still possible after the consolidation. On the upside, a break of the trend line resistance would indicate that the downside movement had completed at 1.3003 already, then further rise towards 1.3400 could be seen.
