GBPUSD stays in a trading range between between 1.2077 and 1.2249. Key resistance is at 1.2249, as long as this level holds, the sideways movement could be treated as consolidation for the downtrend from 1.2578, further decline to 1.2000 area is still possible after the consolidation, only break above 1.2249 resistance could signal completion of the downtrend.
