GBPUSD remains in short term uptrend from 1.5602

GBPUSD remains in short term uptrend from 1.5602, the pullback from 1.5913 is likely consolidation of the uptrend. Support level is at 1.5800, as long as this level holds, uptrend could be expected to resume, and another rise to test 1.5991 previous high resistance is possible. On the downside, a breakdown below 1.5800 will suggest that a cycle top has been formed at 1.5913 on 4-hour chart, then further fall towards 1.5602 could be seen.

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