GBPUSD’s downward movement from 1.6182 extended to as low as 1.5592. The downtrend could be expected to continue after a minor consolidation, and next target would be at 1.5500 area. Near term resistance is at 1.5755, and the key resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.
