GBPUSD remains in downtrend from 1.7190 (Jul 15, 2014 high), the rise from 1.4950 is likely consolidation of the downtrend. Resistance is located at the downward trend line on daily chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.4500 area. Only a clear break above the trend line resistance could signal completion of the downtrend.
