Outlook in GBPUSD remains neutral at the moment , the pair is in recovery mode as long as 1.5678 support holds on a daily closing basis , but note that recovery above the 1.5678 levels should be contained well by the key resistance 1.5775/1.5825 . If this important resistance is taken out on a daily closing basis , outlook will turn bullish towards the 1.5941/1.6022 levels and possible higher .
On the downside , support comes at the 1.5678 levels, losing this level on a daily closing basis will turn outlook towards the 1.5540 levels where a cut will open 1.5500 levels, further down will look for the 1.5400 levels.
In all , as long as 1.5678 support holds on a daily closing basis , the GBPUSD remains in recovery mode and further gains could be seen towards the 1.5775/1.5825 levels before the next fall. Below 1.5678 will restore the downside momentum and open 1.5540/1.5500 levels.