GBPUSD Daily Analysis – October 22, 2019

GBPUSD extended its upside movement from 1.2195 to as high as 1.3012. 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. Key support is at 1.2839, a breakdown below this level would indicate that the upside movement had completed at 1.3012 already, then deeper decline towards 1.2600 area could be seen.

GBPUSD 4-hour chart