GBPUSD’s rise from 1.5344 could possibly be resumption of long term uptrend from 1.4230, and the fall from 1.6058 is likely consolidation of uptrend. Another rise towards 1.6298 is still possible next week. Support is at 1.5750, only break below this level will indicate that lengthier consolidation in the trading range between 1.5296 and 1.6298 is underway.
For long term analysis, GBPUSD is uptrend from 1.4230, as long as 1.5296 key support holds, one more rise towards 1.8000 is still possible.
