GBPUSD Daily Analysis – October 16, 2019

GBPUSD broke above 1.2707 resistance and extended its upside movement from 1.2195 to as high as 1.2799. The upside movement could be expected to continue after a minor consolidation and next target would be at 1.2900 area. Near term support is at 1.2670, a breakdown below this level could bring the price back to 1.2600 zone.

GBPUSD 4-hour chart