GBPUSD remains in the downtrend from 1.3298, the bounce from 1.2475 is likely consolidation for the downtrend. Resistance levels are at 1.2710 and 1.2800, as long as these levels holds, the downside movement could be expected to continue and next target would be at 1.2300 area. On the upside, a breakout of 1.2800 resistance would indicate that the downside movement had completed at 1.2475 already, then next target would be at 1.3050 area.
