GBPUSD Daily Analysis – October 26, 2017

GBPUSD broke above a major resistance level at 1.3228, indicating that the pair is in short term uptrend from 1.3087. Further rise could be expected and next target would be at 1.3337. A breakout of this level could take price to 1.3400 – 1.3450 area. Support is at 1.3087, only a breakdown below this level could trigger another fall towards the major support trend line on the daily chart.

GBPUSD 4-hour chart