GBPUSD 1.5600: Neutral – Within a 4-week rising wedge

GBPUSD has been bumping against a 4-week rising wedge resistance near 1.5689 (29 July high). A decisive break through there is needed to maintain the rally from April 13’s 1.4565 YTD low to retest 1.5787 then possibly the 1.5929 YTD high. However, a break down below 1.5548 (July 31 2015 low) near the rising wedge support would suggest near-term topping and shift the focus towards 1.5465 area ahead of 1.5329.
Outlook:
Short term: neutral
Long term: bullish