Consolidation in GBP/USD Has Appeared

Trading in the pair is neutral for consolidation above temporary minimum 1.2950. Pivot points are at: (S1) 1.2946; (P) 1.2980; (R1) 1.3011.

Price moves in the pair from 1.1946 are corrective. Correction could have completed at 1.3267. Deeper decrease in the pair is possible.

Price moves from a price actions from a medium term minimum 1.1946 are corrective. Resumption of a downtrend from 1.7190 is awaited after completion of a correction. Overcoming of 1.2588 will point out resumption of a downtrend.