After breaking above 1.5928 previous high, GBPUSD pulled back from 1.5991. Further fall to test 1.5645 key support is expected next week, a break below this level could trigger another fall towards 1.5000. On the other side, as long as 1.5645 level holds, one more rise to 1.6100 is still possible.
For long term analysis, GBPUSD is in downtrend from 1.6745 (Apr 28, 2011 high), further fall towards 1.4500 could be seen over the next several months.
