GBPUSD Daily Analysis – October 19, 2017

GBPUSD is now in downtrend from 1.3337. Further decline would likely be seen and next target would be at 1.3121, below this level could take price to the major support trend line on the daily chart. Resistance is at the support-turned-resistance trend line on the 4-hour chart now at around 1.3235. Only a clear break above the trend line could trigger another rise towards 1.3455.

GBPUSD 4-hour chart