GBPUSD is facing 1.2700 resistance, a break of this level will indicate that the downward movement from 1.5016 had completed at 1.1946 already, then the following upward movement could bring price to 1.3500 zone. On the other side, as long as 1.2700 resistance holds, the rise from 1.1946 would possibly be consolidation of the downtrend, another fall towards 1.1500 is still possible after consolidation.
