GBPUSD remains in downtrend from 1.6668, the rise from 1.6474 is treated as consolidation of the downtrend. Another fall to the bottom of the price channel on 4-hour chart is possible. However, the downtrend from 1.6668 would possibly be consolidation of the longer term uptrend from 1.5854 (Nov 12, 2013 low), and the uptrend could be expected to resume after touching the lower line of the channel. Only a clear break below the channel support could signal completion of the uptrend from 1.5854.
