GBPUSD Daily Analysis – November 29, 2018

GBPUSD is facing the resistance of the falling trend line on the 4-hour chart. A clear break above the trend line resistance would indicate that the downside movement from 1.3174 had completed at 1.2723 already, then further rise to 1.3100 area could be seen. On the downside, as long as the trend line resistance holds, the price action from 1.2723 could be treated as consolidation for the downtrend, and another fall towards 1.2500 is possible after the consolidation.

GBPUSD 4-hour chart