GBPUSD’s downward movement from 1.5605 extends to as low as 1.5014. Further decline is still possible next week, and next target would be at 1.4900 area. Resistance is at 1.5250, only break above this level could signal completion of the downtrend. On the upside, as long as 1.4831 key support holds, the fall from 1.5605 would possibly be correction of the uptrend from 1.4831, another rise towards 1.6000 could be expected after correction.
For long term analysis, GBPUSD is in uptrend from 1.4831. Further rise towards 1.6000 could be expected over the next several weeks.
