GBPUSD’s downward movement from 1.6524 extended to as low as 1.6214. Resistance is at 1.6340, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.6100 area. Only break above 1.6340 resistance will indicate that he downward movement is complete, then another rise towards 1.6700 could be seen.
