GBPUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.7190. As long as the trend line resistance holds, the bounce from 1.6536 could be treated as consolidation of the downtrend. Another fall would likely be seen after consolidation, and next target would be at 1.6400 area. On the upside, a clear break above the trend line resistance will indicate that the downtrend had completed at 1.6536 already, then further rise to 1.6800 area could be seen.
