GBPUSD formed a cycle top at 1.6105 level on daily chart. Pullback to 1.5400 is expected in a couple of weeks. However, the price action from 1.5997 is more likely consolidation of uptrend from 1.4230, as long as 1.5296 support holds, uptrend could be expected to resume and one more rise towards 1.8000 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.
