GBPUSD Daily Analysis – October 15, 2018

GBPUSD failed to breakout of 1.3298 resistance and pulled back from 1.3257, breaking below the bullish trend line on the 4-hour chart, suggesting that the upside movement from 1.2921 had completed. Deeper decline is still possible and next target would be at 1.3000 area. Resistance is at 1.3190, only a break of this level could trigger another rise to test 1.3298 resistance.

GBPUSD 4-hour chart