GBPUSD Daily Analysis – October 23, 2019

GBPUSD broke below the rising trend line on the 4-hour chart and is now facing 1.2839 support, a breakdown below this level would indicate that the uptrend from 1.2195 had completed at 1.3012 already, then further decline towards 1.2600 could be seen. On the upside, as long as 1.2839 support holds, the pullback from 1.3012 could be treated as consolidation for the uptrend, another rise towards 1.3150 is still possible.

GBPUSD 4-hour chart