GBPUSD stays in a falling price channel on its 4-hour chart and remains in downtrend from 1.3047. As long as the pair is in the channel, the bounce from 1.2589 could be treated as consolidation of the downtrend, and another fall to 1.2450 area could be expected after the consolidation. Key resistance is at 1.2817, only break above this level could signal completion of the downtrend.
