GBP/USD is facing resistance at 1.3228. Above this level will indicate that the downside movement from 1.3337 had completed at 1.3087 already. Then a further rally can be seen and the next target would be at 1.3337 resistance.
However, as long as the1.3228 resistance holds, the downtrend from 1.3337 could be expected to continue and deeper decline towards the major support trend line on the daily chart is possible.
