GBPUSD continues its upward movement and the rise from 1.4230 extended to as high as 1.5720. Now the pair has reached the upper border of the price channel, minor consolidation would more likely be seen next week. Support is at the lower border of the channel, now at 1.5310, only a clear break below the channel support could indicate that the uptrend from 1.4230 is complete.
For long term analysis, GBPUSD broke above 1.5522 key resistance, suggesting that a cycle bottom had been formed at 1.4230 level on weekly chart. Bounce to 1.8000 is now in favor in next several months.
