GBPUSD remains in downtrend from 1.6785, the rise from 1.6465 is likely consolidation of the downtrend. Resistance is located at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.6400 area. However, a clear break above the channel resistance will signal completion of the downtrend, then the following upward movement could bring price to 1.7000 zone.
