GBPUSD’s downside movement from 1.2309 extended to as low as 1.2136. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2060 area. On the upside, a breakout of the trend line resistance would suggest that the downside movement is complete, then another rise towards 1.2400 could be seen.
