GBPUSD breaks above 1.4778 resistance, suggesting that a short term cycle bottom has been formed at 1.4585 on 4-hour chart. Further rise could be seen to test 1.4957 resistance, a break above this level will signal the resumption of the medium term uptrend from 1.3654 (Mar 11 low), and then the next target would be at 1.5200 level.
