GBPUSD remains in downtrend from 1.3047, the rise from 1.2589 is likely consolidation of the downtrend. Near term resistance is at the falling trend line on its 4-hour chart. As long as the pair is below the trend line, the downtrend could be expected to continue and next target would be at 1.2450 area. Key resistance is at 1.2817, only break above this level could indicate that the downtrend had completed at 1.2589 already, then another rise towards 1.3300 could be seen.
