GBPUSD moved sideways in a trading range between 1.3451 and 1.3652. The sideways movement is likely consolidation of the uptrend from 1.2774. As long as 1.3451 support holds, the uptrend could be expected to continue and next target would be at 1.3950 area. On the downside, a breakdown below 1.3451 support could bring price back towards the rising trend line from 1.2909 to 1.3153 on the 4-hour chart, now at around 1.3340. Only a break through the trend line support could indicate that the bullish movement had completed at 1.3652 already, then the following downside movement could take price to 1.2850 area.
