Being contained by 1.6400 previous high resistance, GBPUSD pulled back from 1.6363, suggesting that a cycle top is being formed on 4-hour chart. Range trading between 1.6200 and 1.6363 would likely be seen in a couple of days. However, the fall from 1.6363 is treated as consolidation of uptrend from 1.5936, another rise towards 1.6600 is still possible after consolidation.

gbpusd