GBPUSD extended its downside movement from 1.4376 to as low as 1.3101. As long as 1.3472 resistance holds, the downtrend could be expected to continue and next target would be at 1.2500 area. On the upside, a breakout of 1.3472 resistance would indicate that the downside movement had completed at 1.3101 already, then further rally towards 1.3750 area could be seen.
