GBPUSD remains in downtrend from 1.7190, the rise from 1.6756 could be treated as consolidation of the downtrend. Initial resistance is at the downward trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.6500 area. On the upside, a clear break above the trend line resistance will indicate that the downtrend had completed at 1.6756 already, then further rise to 1.6900 – 1.6950 area could be seen.
