GBPUSD Daily Analysis – October 30, 2018

GBPUSD remains in the downtrend from 1.3257, the bounce from 1.2776 is likely consolidation for the downtrend. As long as the price is below the bearish trend line on the 4-hour chart, the downtrend could be expected to continue and next target would be at 1.2700 area. Only a breakout of the trend line resistance could signal completion of the downtrend.

GBPUSD 4-hour chart