GBPUSD Daily Analysis – October 28, 2019

GBPUSD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 1.3012. As long as the channel resistance holds, the downside movement could be extended to continue and next target would be at 1.2700 area. On the upside, a breakout of the channel resistance would indicate that the downtrend had completed at 1.2788 already, then another rise towards 1.3150 could be seen.

GBPUSD 4-hour chart