GBPUSD remains in uptrend from 1.5272, the fall from 1.6164 could be treated as consolidation of uptrend. Support is at 1.5800, as long as this level holds, uptrend could be expected to resume, and another rise towards 1.6500 is still possible. Only break below 1.5800 could indicate that the rise from 1.5272 had completed at 1.6164 already, then the following downward move could bring price back to 1.5600 zone.
For long term analysis, GBPUSD had formed a cycle bottom at 1.5272 on weekly chart. Further rise towards 1.7000 would likely be seen over the next several weeks.
