GBPUSD Daily Analysis – October 31, 2017

GBPUSD failed to break below 1.3027 support and stayed in a trading range between 1.3027 and 1.3337. The price action in the range is likely consolidation of the downtrend from 1.3657, a breakdown below 1.3027 support could trigger another bearish movement towards 1.2800. Resistance levels are at 1.3235 and 1.3337, only break above these levels could take price to 1.3500 zone.

GBPUSD 4-hour chart