GBPUSD Daily Analysis – October 24, 2018

GBPUSD stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 1.3257. As long as the trend line resistance holds, the downside movement could be expected to continue and a breakdown below 1.1921 support could trigger further downside movement towards 1.2850. Key resistance is at 1.3044, only a breakout of this level could bring the price back to 1.3100 area.

GBPUSD 4-hour chart