GBPUSD might be forming a cycle bottom at 1.4557 on daily chart. Key resistance is now located at 1.5270, a break above this level will confirm the cycle bottom, and then further rally could be seen towards 1.6000 zone. Key support is at 1.4557, only fall below this level will signal deeper decline towards 1.4000 zone.
For long term analysis, GBPUSD remains in long term bearish movement. Deeper decline to 1.4000 zone to reach the next cycle bottom on weekly chart is expected.
