The GBPUSD failed on the break below the 38.2% of the move up from the April 16th low at the 1.61156 level. It also failed on the move below the parallel channel support. The price is now above the 1.61156 level and traders will be watching this level to provide support.
On the topside, the 100 hour MA and the bottom trendline at 1.6152-54 level.