GBPUSD moved sideways in a trading range between 1.2723 and 1.2883. The sideways movement is likely consolidation for the downtrend from 1.3174. A breakdown below 1.2723 support would indicate that the downtrend has resumed, then next target would be at 1.2600 area. Resistance is at 1.2883, above this level could bring the price back towards the bearish trend line on the 4-hour chart.
