Being contained by 1.9633 resistance, GBPUSD pulls back from 1.9622 and formed a short term cycle top on 4-hour chart. Deeper decline to test 1.9337 (Jan 22 low) support could be seen and break of this level is still in favor. Initial resistance is at 1.9633, only rise above this level will signal lengthier correction to the down trend.
http://blog.forexcycle.com/767/forex-analysis-may-20-2008/