As noted before, GBP/USD's consolidation from 1.4783 is still in progress and stronger recovery cannot be ruled out. But after all, we'd expect upside to be limited by 38.2% retracement of 1.6456 to 1.4783 at 1.5422 and bring fall resumption. Below 1.4977 will flip intraday bias back to the downside...

http://www.actionforex.com/action-insight/...20100317109020/