GBPUSD has formed a cycle bottom at 1.4948 level on 4-hour chart. Now the rise from 1.4948 is treated as resumption of uptrend from 1.4230 (May 20 low). Further rally is expected after a minor consolidation and next target would be at 1.5522 (Apr 15 high). Support is now at 1.5100, only fall below this level could indicate that lengthier consolidation of uptrend is underway and delay the resumption of uptrend.

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