GBPUSD may be in the process of building a triangle, whose upper side is limited by the quartile median of the operational channel, and whose lower side is limited by the 38.2% fib retracement in the 1.2200 area. A measured move on the downside breakdown of the triangle takes the price towards the 23.6% fib retracement in the 1.2100 area. However, this move is crossed by the longer term pitchfork median in the 1.2160-1.2180 area. This pitchfork median has historically provided noticeable support and resistance.