GBPUSD Daily Analysis – October 1, 2018

GBPUSD extended its downside movement from 1.3298 to as low as 1.3000, breaking below 1.3054 support. Deeper decline is still possible in a couple of days and next target would be at 1.2900 area. Near term resistance is at 1.3100, a breakout of this level would indicate that the downside movement is complete, then another rise towards 1.3200 could be seen.

GBPUSD 4-hour chart