GBPUSD may be forming a cycle top at 1.5967 level on 4-hour chart, pullback towards the uptrend line from 1.5124 to 1.5551 would more likely be seen later today, a clear break below the trend line support (now at 1.5777) will confirm the cycle top, then deeper decline could be seen to 1.5700 area. On the upside, as long as the pair stays above the rising trend line, one more rise to 1.6100 is still possible, and a break above 1.5967 could signal resumption of uptrend.

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