GBPUSD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 1.2985. As long as the channel resistance holds, the bounce from 1.2822 could be treated as consolidation for the downtrend, further decline towards 1.2768 support is possible after the consolidation. On the upside, a breakout of the channel resistance would indicate that the downside movement had completed at 1.2822 already, then another rise towards 1.3000 could be seen.
