GBPUSD’s downside movement from 1.3657 extended to as low as 1.3222. As long as the pair is below the bearish trend line on the 4-hour chart, the downside move could be expected to continue and next target would be at 1.3150 area. Below this level could trigger further decline towards the bullish trend line on the daily chart now at 1.2930. On the upside, a clear break above the trend line resistance would indicate that the downside movement is complete, this could trigger a bullish movement to test 1.3455 resistance.
