After breaking above 1.6820 resistance, GBPUSD pulled back from 1.6841, indicating that lengthier consolidation for the uptrend from 1.6465 is needed. Deeper decline would likely be seen, and the target would be at 1.6700 area. Key support is at 1.6660, as long as this level holds, the uptrend could be expected to resume, and one more rise towards 1.7000 is still possible after consolidation. On the downside, a breakdown below 1.6660 support will signal completion of the uptrend, then the following downward movement could bring price back to 1.6500 zone.
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