GBP/USD: Correction Continues

As I expected, GBP/USD broke below both supports at 1.5810 and 1.5770 and continued falling. The pair is currently likely headed for target 1.5640, which coincides with the 89(MA) on the four hour filter chart, and should it break below that level of support it will probably continue its descent towards the support at 1.5540, visible on the daily filter chart. However, I still think that this is not the end of the bullish trend and that once the correction ends the pair will once again attempt to break above 1.5930.