GBPUSD continued its sideways movement in a trading range between 1.1409 and 1.1933. As long as 1.2250 resistance holds, the price action in the trading range could be treated as consolidation for the downtrend from 1.3199, and further decline to 1.1300 area is possible after the consolidation. Only break above 1.2250 resistance could signal completion of the downtrend.
