GBPUSD stays in a trading range between 1.4397 and 1.5066. As long as 1.5066 resistance holds, we’d expect downtrend to resume, and pullback to test 1.4110 support is in favor. However, above 1.5066 will indicate that the uptrend from 1.3654 is underway, and further rally could be seen to 1.5300-1.5400 area.
For long term analysis, GBPUSD might be forming a cycle top at 1.5066 level on weekly chart. Key support is at 1.4110, a break below this level will confirm the cycle top and then deeper decline could be seen to 1.2000 zone.
