GBPUSD stayed in a trading range between 1.2960 and 1.3381 for several weeks. As long as 1.2960 support holds, the price action in the range could be treated as consolidation for the uptrend from 1.2396, another rise towards 1.3600 is still possible after the consolidation. However, a breakdown below 1.2960 support would indicate that the upside movement had completed at 1.3381 already, then the pair would find next support at around 1.2600.
