GBPUSD Daily Analysis – October 18, 2019

GBPUSD’s upside movement from 1.2195 extended to as high as 1.2989. As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.3150 area. On the downside, a breakdown below the trend line support would indicate that the upside movement had completed at 1.2989 already, then the following downside movement could bring the price back to 1.2550 zone.

GBPUSD 4-hour chart