GBPUSD remains in downtrend from 1.7190 (Jul 15 high), the bounce from 1.6536 is likely consolidation of the downtrend. Resistance is located at the downward trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend could be expected to resume, and next target would be at 1.6400 area. Only a clear break above the trend line resistance could signal completion of the downtrend.
