GBPUSD Daily Analysis – October 3, 2018

GBPUSD continued its downside movement from 1.3298 and the fall extended to as low as 1.2940. Further decline is still possible and next target would be at 1.2800 area. Resistance is located at the falling trend line on the 4-hour chart, only a breakout of the trend line resistance could signal completion of the downtrend.

GBPUSD 4-hour chart