GBPUSD continued its sideways movement in a range between 1.1946 and 1.2477. Resistance is at 1.2477, as long as this level holds, the sideways movement could be treated as consolidation of the downtrend from 1.3445 (Sept 6 high), another fall to 1.1500 area is still possible after consolidation. On the upside, a break of 1.2477 resistance will indicate that the downward movement had completed at 1.1946 already, then further rally to test the resistance of the downward trend line could be seen.
