GBPUSD’s fall from 1.6593 extended to as low as 1.6314. Deeper decline is still possible and next target would be at 1.6270 area. Key support is located at 1.6219, as long as this level holds, the fall could be treated as consolidation of the uptrend from 1.5854 (Nov 12, 2013 low), another rise towards 1.7000 could be expected after consolidation. Only a breakdown below 1.6219 support could signal completion of the uptrend.
