GBPUSD Daily Analysis – October 26, 2018

GBPUSD extended its downside movement from 1.3257 to as low as 1.2795. Further decline is still possible after a minor consolidation and next target would be at 1.2700 area. Key resistance is located at the bearish trend line on the 4-hour chart, only a breakout of the trend line resistance could signal completion of the downtrend.

GBPUSD 4-hour chart