GBPUSD broke above the upper line of the price channel on 4-hour chart. Further rise to test 1.6226 resistance is possible, a break of this level will signal completion of the downtrend from 1.6524, then next target would be at 1.6400 area. On the downside, as long as 1.6226 resistance holds, the price action from 1.5951 would possibly be consolidation of the downtrend from 1.6524, another fall to 1.5600 area is still possible after consolidation.
