GBPUSD’s downward move from 1.5910 extended to as low as 1.5356 level. Deeper decline to test 1.5296 key support is expected next week, a breakdown below this level will confirm that the long term uptrend from 1.4230 had completed at 1.6298 already, then the following downward move could bring price to 1.4600-1.4700 area.
For long term analysis, GBPUSD is forming a cycle top at 1.6298 level on weekly chart, key support is at 1.5296, a breakdown below this level will confirm the cycle top.
