GBPUSD broke below 1.5649 key support, suggesting that the uptrend from 1.4230 has completed at 1.6298 already. Deeper decline towards 1.5296 support could be seen next week. Resistance is at 1.5850, as long as this level holds, downtrend could be expected to continue.
For long term analysis, GBPUSD is forming a cycle top at 1.6298 level on weekly chart, key support is at 1.5296, a breakdown below this level will confirm the cycle top.
