GBP/USD rebounds again, being supported above 1.6205 minor support. Intraday outlook remains neutral for the moment. Nevertheless, price actions since 1.6617 suggests that it's likely consolidation to the rise from 1.5801 only and favors upside break out. Above 1.6617 will indicate recent rally has resumed for 1.7332 fibo resistance. Though, upside momentum might diminish as GBP/USD approaches this level. On the downside, below 1.6205 will flip intraday to the downside and bring further fall to test 1.5778 cluster support (38.2% retracement of 1.4395 to 1.6661 at 1.5795). As noted before, break of 1.5778 will strongly suggest that rise from 1.4395 has completed and should bring deeper decline to trend line support (now at 1.5418).

In the bigger picture, price actions from 1.3503 are treated as correction to the larger down trend from 2.1161 only. With trend line support intact (now at 1.5418), rise from 1.3654 might extend further but focus will remain on reversal signal as GBP/USD stays in 1.6428/7332 resistance zone (38.2% and 50% retracement of 2.1161 to 1.3503) as we'd expect the correction to conclude here. On the downside, however, break of the trend line support will be an important signal that such correction has finally completed and should turn outlook bearish for a retest of 1.3503 low next.