GBPUSD remains in uptrend from 1.6465, the fall from 1.6684 is likely consolidation of the uptrend.

Deeper decline is possible, and the target would be at 1.6550 area.

Resistance is at 1.6684, a break above this level will indicate that the uptrend from 1.6465 has resumed, then further rise to 1.6750 area could be seen.

Editor’s Note: Equity investors/traders can use the Currency Shares British Pound Sterling Trust (FXB, quote) ETF to take positions in the yen without a FOREX account.  The ETF looks to track the price of the British Pound Sterling, minus ETF fee. The fund seeks to reflect the price of the British Pound Sterling with the shares representing a cost-effective investment relative to investing in the FOREX market.

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