GBPUSD Daily Analysis – October 1, 2019

GBPUSD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 1.2581. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 1.2200 area. On the upside, a clear break above the trend line resistance would suggest that the downside movement had completed at 1.2270 already, then another rise towards 1.2600 could be seen.

GBPUSD 4-hour chart