GBPUSD continued its sideways movement in a trading range between 1.3301 and 1.3466. As long as 1.3466 resistance holds, the sideways movement could be treated as consolidation of the downtrend from 1.3549, and further decline is till possible after the consolidation. Next term support is at 1.3301, a breakdown below this level could signal resumption of the downtrend, then next target would be at 1.3220 support. Below here would aim 1.3027 (Oct 6 low) support. On the upside, a breakout of 1.3466 resistance will indicate that the fall from 1.3549 had completed at 1.3301 already, then the following upside movement could take price towards 1.3549, followed by 1.3657 (Sep 20 high).
