GBPUSD continued its downward movement from 1.2569 and the fall extended to as low as 1.2109. Resistance is now at 1.2251, as long as this level holds, the downtrend could be expected to continue and next target would be at 1.2000 area. On the upside, a break of 1.2251 resistance will indicate that the downtrend is complete, then the following upward movement could bring price to 1.2600 zone.
