GBPUSD: The pair remains vulnerable to the downside extending its correction and threatening further bearishness. We may see declines possibly towards the 1.6073 level, currently being tested. A break and hold below here could push the pair further lower towards the 1.6000 level, its big psycho level and possibly the 1.5958 level. Its daily RSI is bearish and pointing lower supporting further weakness. The alternative scenario will be for the pair to return above the 1.6300/08 levels. Further out, resistance stands at the 1.6350 level with a cut through here allowing for more gains towards the 1.6400 level. On the whole, GBP remains vulnerable on correction.