GBP/USD has continued its downward movement from 1.2745, reaching as low as 1.2070.
As long as the price remains below the trend line, there is an expectation for the downside move to continue, with the next target to consider around the 1.2000 area.
On the upside, a breakout above the trend line resistance would suggest that a longer consolidation phase for the downtrend is underway. In this scenario, the next resistance level to monitor would be around the 1.2400 area.
