GBPUSD extended its downside movement from 1.3199 to as low as 1.2265. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2100 area. Near term resistance is at 1.2500, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.
