GBPUSD remains in uptrend from 1.4831, the fall from 1.5411 is likely consolidation of the uptrend. Support is at the lower line of the upward price channel on daily chart, as long as the channel support holds, the uptrend could be expected to resume, and another rise to 1.5600 area is still possible. On the downside, a clear break below the channel support will suggest that the upward movement from 1.4831 had completed at 1.5411 already, then the following downward movement could bring price to 1.4500 zone.
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.
