GBPUSD remains in uptrend from 1.5781, the fall from 1.6475 is treated as consolidation of uptrend. As long as 1.6223 support holds, uptrend could be expected to continue, and next target would be at 1.6600-1.6700 area. On the downside, a breakdown below 1.6223 will indicate that the rise from 1.5781 has completed at 1.6475 already, then pullback to 1.5900-1.6000 area could be seen.
For long term analysis, GBPUSD is in consolidation of uptrend from 1.4230 (2010 low). Range trading between 1.5781 and 1.6745 is expected in next several weeks.
