GBPUSD stays within a upward price channel on daily chart, and remains in uptrend from 1.4831. Key support is at the lower line of the channel, as long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.5600 area, only a clear break below the channel support could signal completion of the uptrend.
For long term analysis, GBPUSD may be forming a cycle bottom at 1.4831 on weekly chart. Further rise towards 1.6000 could be expected over the next several weeks.
