GBP/USD has pulled back, forming a flag continuation pattern which looks like it is close to completing. The trend is bullish so a break higher is expected after the pattern finishes. The count taken from the long column of X's at the 26th November lows targets 1.6680. A break above the 1.6405 highs would help confirm a bullish breakout. A closer intial target, however, might be the ressistance level at 1.6550.