GBPUSD consolidated in a range between 1.5962 and 1.6343 for several weeks, as long as 1.5962 key support holds, uptrend could be expected to resume, and another rise towards 1.7000 is still possible. However, a break above 1.6343 is needed to confirm the resumption of uptrend. On the downside, a breakdown below 1.5962 will indicate that the uptrend from 1.5344 had completed at 1.6343 already, then the following downward movement could bring price to 1.5500 zone.
For long term analysis, GBPUSD is in uptrend from 1.4230, as long as 1.5296 key support holds, one more rise towards 1.8000 is still possible.
