GBPUSD’s downward movement from 1.6643 extended to as low as 1.6168. Further decline could be expected after a minor consolidation, and next target would be at 1.6000 area. Near term resistance is at 1.6280, only break above this level will indicate that the downtrend had completed at 1.6168 already, then the following upward movement could bring price back to test the resistance of the downward trend line from 1.7190 to 1.6643.
