GBPUSD Analysis - Daily

GBPUSD remains in downtrend from 1.6524, the rise from 1.5874 is likely consolidation of the downtrend. Near term resistance is located 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 continue, and next target would be at 1.5600 area. Key resistance is at 1.6226, only break above this level could bring price back to 1.6400 zone.