GBPUSD Daily Analysis – October 25, 2018

GBPUSD broke below 1.2921 support and extended its downside movement from 1.3257 to 1.2865 area. As long as the price is below the bearish trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2800 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

GBPUSD 4-hour chart