After touching 1.6465 resistance, GBPUSD pulled back from 1.6481, suggesting that lengthier sideways consolidation of the uptrend from 1.5854 is underway. Key support is at 1.6219, as long as this level holds, the uptrend could be expected to resume, and another rise towards 1.7000 is possible. On the downside, a breakdown below 1.6219 support will indicate that the uptrend from 1.5854 is complete, then deeper decline to 1.6000 area could be seen.
