GBPUSD Daily Analysis – October 11, 2019

GBPUSD bounced strongly to 1.2470 area, suggesting that the downtrend from 1.2581 had completed at 1.2195 already. Further rally could be expected after a minor consolidation and next target would be at 1.2600 area. Support is at 1.2375, as long as this level holds, the uptrend from 1.2195 will continue.

GBPUSD 4-hour chart