GBPUSD stays in a trading range between 1.3301 and 1.3466. The price action in the range is likely consolidation of the downtrend from 1.3549 and another fall could be expected after the consolidation. Near term support is at 1.3301, a breakdown below this level could take price to next support level at 1.3220. Below this level would aim 1.3027 (Oct 6 low) support. On the upside, a breakout of 1.3466 resistance could signal completion of the downtrend, then the following upside movement could bring price to next resistance level at 1.3549, followed by 1.3657 (Sep 20 high).
