GBPUSD Daily Analysis – October 31, 2018

GBPUSD extended its downside movement from 1.3257 to as low as 1.2695. 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 1.2650 area. Only a breakout of the trend line resistance could signal completion of the downtrend.

GBPUSD 4-hour chart