After touching 1.4831 support, GBPUSD rebounded strongly from 1.4813, and the rise extended to as high as 1.5281. Further rally would likely be seen next week, and next target would be at 1.5550 area. Key resistance is at 1.5751, as long as this level holds, the price action from 1.4831 could be treated as consolidation of the long term downtrend from 1.6745 (Apr 28, 2011 high), and the downtrend could be expected to resume before breaking above 1.5751 resistance.
