GBPUSD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 1.3284. As long as the channel resistance holds, the downtrend could be expected to resume and further decline to 1.2850 area is possible after the consolidation. On the upside, a breakout of the channel resistance would indicate that the downside movement had completed at 1.2954 already, then another rise towards 1.3400 could be seen.
