GBPUSD Daily Analysis – October 15, 2019

GBPUSD moved sideways in a trading range between 1.2516 and 1.2707. As long as 1.2516 support holds, the sideways movement could be treated as consolidation for the uptrend, further rise to 1.2900 area is still possible. On the downside, a breakdown below 1.2516 support would indicate that the upside movement had completed at 1.2707 already, then further decline to 1.2400 area could be seen.

GBPUSD 4-hour chart