GBPUSD is facing 1.2898 resistance, a breakout of this level could trigger further upside movement to 1.2950 area. On the downside, as long as 1.2898 resistance holds, the price action from 1.2768 could be treated as consolidation for the downtrend from 1.3012, another fall towards 1.2650 could be expected after the consolidation.
