GBPUSD remains in downtrend from 1.5605, the rise from 1.5014 is treated as consolidation of the downtrend. Resistance is 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 resume, and another fall to 1.4900 area is still possible after consolidation. On the upside, a clear break above the channel resistance will indicate that the downward movement from 1.5605 had completed at 1.5014 already, then the following upward movement could bring price back to 1.5400 – 1.5500 area.
