Technical analysis:
GBP/USD has been trading downside as I expected and the market consolidation and there is chance for the further downside movement.
Due to the defined downside trend and the breakout of the consolidation this morning, I see potential for the further drop towards lower references.
Downside objectives are set at the price of 1.2310 and 1.2250
RSI oscillator had bearish divergence in the background, which is good indication for the further downside movement.
Key resistance is set at the price of 1.2370
