GBP/USD broke below the bullish trend line on the 4-hour chart, indicating that the upside movement from 1.2774 had completed at 1.3652 already. Further decline could be expected after a minor consolidation and next target would be at 1.3250 area. Resistance is now at 1.3470, only break above this level could bring price back to retest the resistance of the long term bearish trend line on the weekly chart.
