GBP/USD's break of 1.6406 minor resistance suggests that a temporary low is in place at 1.6269 and intraday bias is turned neutral for the moment. Nevertheless, another fall is still expected as long as 1.6573 resistance holds. Below 1.6269 will target 1.6166 support first.
In the bigger picture, price actions from 1.3503 (2009 low) are treated as consolidation to long term down trend from 2007 high of 2.1161. Rise from 1.4230 is treated as the third leg of such consolidation and with 1.5935 support intact, such rise could still continue for 1.7043 resistance. But after all, strong resistance should be seen between 1.7043 and 50% retracement of 2.1161 to 1.3503 at 1.7332 to limit upside. On the downside, break of 1.4230 support will be the first signal of down trend resumption and will turn focus to 1.3503 low for confirmation.