GBPUSD stays in a trading range

GBPUSD stays in a trading range between 1.5753 and 1.5911. The price action in the range is likely consolidation of the uptrend from 1.5490. Support is at 1.5753, as long as this level holds, another rise towards 1.6000 could be expected, and a break above 1.5911 could signal resumption of the uptrend. On the downside, a breakdown below 1.5753 will indicate that the uptrend has completed at 1.5911 already, then deeper decline to 1.5400-1.5500 could be seen.