GBPUSD broke above 1.5991 resistance, and reached as high as 1.6038, suggesting that the uptrend from 1.5236 has resumed. Further rise could be expected next week, and next target would be at 1.6200-1.6300 area. Support is at 1.5840, only break below this level could bring price back to 1.5700 zone.
For long term analysis, GBPUSD is in consolidation of the downtrend from 1.6745 (Apr 28, 2011 high). Another fall towards 1.4500 could be expected after consolidation.
