Move in GBPUSD implies a break in short-term uptrend may follow

The 1 hour GBPUSD chart shows that prices now are moving exactly below the strong resistance of the 38.2 percent Fib level and the falling trendline (line 1). These moves imply that a break of the short-term uptrend (line 2) may follow today, which would suggest a continuation of the downtrend. Such a move should establish an initial target of 1.6363 where the pair will face support by the 100-MA and the 50 percent retracement. An eventual break could see the pair target 1.6300.