GBPUSD Daily Analysis – October 4, 2018

GBPUSD stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 1.3298. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 1.2800 area. Key resistance is at 1.3022, only a breakout of this level could trigger another rise towards 1.3200.

GBPUSD 4-hour chart