GBPUSD continued its sideways movement in a trading range between 1.2980 and 1.3185. The price action in the range is likely consolidation for the uptrend from 1.2251 (Jun 29 low). As long as 1.2980 support holds the uptrend could be expected to resume, and further rise towards 1.3300 is possible. On the downside, a breakdown below 1.2980 support would indicate that the upside movement had completed at 1.3185 already, then the pair would find next support at around 1.2850.
