GBPUSD remains in downtrend from 1.6456. Further decline is still possible next week and next target would be at 1.5000 area. Resistance is now located at the upper border of the falling price channel on daily chart, only a clear break above the channel resistance could indicate that the fall from 1.6456 has completed.
For long term analysis, GBPUSD is in bearish movement from 1.7042. Move to 1.4500 area is expected in next several weeks.
