GBPUSD stays in a trading range between 1.5874 and 1.6226. As long as 1.6226 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.6524 (Sept 19 high), another fall to 1.5600 area could be expected after consolidation, and a breakdown below 1.5874 support could signal resumption of the downtrend. On the upside, a break of 1.6226 resistance will indicate that the downtrend had completed at 1.5874 already, then further rise to 1.6400 area could be seen.
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