GBPUSD Daily Analysis – October 12, 2017

GBPUSD is now in short term uptrend from 1.3027. Further rise to test 1.3291 resistance would likely be seen. A breakout of this level would aim next resistance level at 1.3455. However, the short term uptrend would possibly be correction of the downtrend from 1.3657, another fall would likely be seen before breaking above 1.3455 resistance. Near term support is at 1.3170, a breakdown below this level could trigger another fall towards 1.3027 previous low.

GBPUSD 4-hour chart