Being supported by the previous low at 1.9337, GBPUSD rebounded from 1.9386. Further rise to 1.9900 area to reach the next cycle top on daily chart is expected. Key support is at 1.9337, only breakdown of this level will signal the resumption of the down trend.
For long term analysis, the pair is in long term bearish movement. Further fall towards 1.8000 area to reach the next cycle bottom on weekly chart is expected.
