GBPUSD is forming a sideways consolidation in a range between 1.1946 and 1.2774. another fall to test 1.1946 support would likely be seen, and a breakdown below this level will signal resumption of the downtrend from 1.5016, then next target would be at 1.1500 area. Key resistance is at 1.3050, only break above this level could signal completion of the downtrend.
