No changed in our view, GBPUSD is forming a sideways consolidation in a range between 1.9337 and 2.0099. decline towards 1.9400 area, and rebound from the previous low support at 1.9337 may be expected next week. The rise from 1.9337 is treated as consolidation to the down trend, and further fall towards 1.9000 area is still possible after consolidation, and a break below 1.9337 will signal the resumption of the down trend.
For long term analysis, the pair is in long term bearish movement. Further fall towards 1.8000 area to reach the next cycle bottom on weekly chart is expected.
