GBPUSD moved sideways in a trading range between 1.2980 and 1.3185. The sideways movement 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 to 1.3300 area is possible after the consolidation. However, a breakdown below 1.2980 support would indicate that the upside movement had completed at 1.3185 already, then the pair would find support at around 1.2850, followed by 1.2760.
