GBPUSD is facing 1.2652 support. As long as this level holds, the sideways movement in a trading range between 1.2652 and 1.2762 could be treated as consolidation for the uptrend from 1.2558, one more rise to 1.2850 area is still possible after the consolidation. However, a breakdown below 1.2652 support would indicate that the upside movement had completed at 1.2762 already, then the following downside movement could take the price to 1.2550 area.
