GBPUSD formed a cycle bottom at 1.5296 level on daily chart. Further rise towards 1.5997 is expected next week. However, the bounce from 1.5296 is more likely correction of downtrend from 1.5997, as long as 1.5997 key resistance holds, one more fall to 1.5000 is still possible.
For long term analysis, GBPUSD is in uptrend from 1.4230. Rise to 1.8000 area to reach next cycle top on weekly chart is expected in next several months.
