GBPUSD is testing 1.6743 previous high resistance, a break above this level will suggest that the uptrend from 1.3503 has resumed, then further rally could be seen to 1.7000 zone. Near term support is now at 1.6310, a break down below this level will take price back to 1.6050 zone or even lower.
For long term analysis, GBPUSD is in correction of the long term downtrend from 2.1161 (2007 high). Rebound to 1.7000-1.7500 area to reach the next cycle top on weekly chart is still possible.
