GBPUSD broke below the lower line of the price channel on daily chart suggesting that the uptrend from 1.4831 had completed at 1.5605 already. Deeper decline is still possible next week, and the target would be at 1.5000 area. Resistance is at 1.5350, only break above this level could signal completion of the downtrend from 1.5605.
For long term analysis, GBPUSD is in uptrend from 1.4831. Further rise towards 1.6000 could be expected over the next several weeks.
