GBPUSD extended its downside movement from 1.2642 to as low as 1.2073, breaking below 1.2164 support. 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 1.2000 area. On the upside, a breakout of the trend line resistance would indicate that the downside movement is complete, then another rise towards 1.2600 could be seen.
