GBPUSD stays in a downward price channel on 4-hour chart, and remains in downtrend from 1.5991, the price action from 1.5602 is treated as consolidation of the downtrend. Another fall would likely be seen after consolidation, and next target would be at 1.5500 area. Support is at 1.5602, a breakdown below this level could signal resumption of the downtrend. Resistance is at the upper line of the channel, only a clear break above the channel could signal completion of the downtrend.


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