GBPUSD Daily Analysis – October 8, 2018

GBPUSD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 1.3298 had completed at 1.2921 already. Further rally could be expected and next target would be at 1.3250 area. Near term support is at 1.3030, only a breakdown below this level could trigger another fall towards 1.2800.

GBPUSD 4-hour chart