GBPUSD extended its downside movement from 1.3381 to as low as 1.2480. As long as the price is in the falling price channel on the daily chart, the downside movement could be expected to continue and next target would be at 1.2396 previous low, followed by 1.2250. Key resistance is at 1.2783, only break above this level could signal completion of the downtrend.
