GBPUSD Daily Analysis – November 20, 2018

GBPUSD stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 1.3174. As long as the trend line resistance holds, the bounce from 1.2723 could be treated as consolidation for the downtrend and further decline towards 1.2550 is still possible after the consolidation. Only a breakout of the trend line resistance could signal completion of the downtrend.

GBPUSD 4-hour chart