GBPUSD breaks below 1.5284 support, suggesting that the downtrend from 1.6298 has resumed. Deeper decline to test 1.5296 key support is expected next week, a break 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.
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