GBPUSD Daily Analysis – October 16, 2018

GBPUSD is now in the downtrend from 1.3257. Further decline is still possible and next target would be at 1.3020 area. Resistance is at 1.3190, a breakout of this level would indicate that the uptrend from 1.2921 has resumed, then another rise to test 1.3298 resistance could be seen.

GBPUSD 4-hour chart