GBPUSD Weekly Analysis – October 4, 2020

GBPUSD remains in the downtrend from 1.3482, the bounce from 1.2674 is likely consolidation for the downtrend, and further decline to 1.2400 area is possible. Near term resistance is at 1.3100, only break above this level could trigger another rise towards 1.3500.

GBPUSD daily chart