24 July 2015, GBP/USD
4 hours’ chart of GBPUSD.
The pair is trying to leave the horizontal channel (3/8 - 5/8) in which it had been consolidating in recent time.
Staying within the channel was not very durable, so the level of (2/8) is still considered as the target for decline.
This option will be canceled if the price returns and consolidates above the level (3/8), and the current plan will become irrelevant.