GBPUSD broke below 1.5781 support and reached as low as 1.5707. Downtrend from 1.6617 could be expected to continue next week, and next target would be at 1.5500 zone. Resistance is at 1.5900, only break above this level could signal consolidation of downtrend.
For long term analysis, GBPUSD is in downtrend from 1.6745. Deeper decline to 1.4500-1.5000 area is expected in next several months.
