GBPUSD rebounds sharply from 1.4397 and breaks above 1.4708 key resistance, suggesting that a short term cycle bottom has been formed at 1.4397 level on 4-hour chart. Further rally could be seen to 1.4850-1.4900 area in a couple of days. Near term support is at 1.4575, only fall below this level will take price back to retest 1.4397 support.