GBPUSD formed a cycle top at 1.6400 level on daily chart. Deeper decline is still possible next week, and target would be at 1.5700-1.5800 area. The fall from 1.6400 is treated as consolidation of uptrend from 1.5344, another rise towards 1.6700 is still possible after consolidation.
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.
