GBPUSD Daily Analysis – November 6, 2019

GBPUSD moved sideways in a trading range between 1.2788 and 1.3012. As long as 1.2788 support holds, the price action in the range could be treated as consolidation for the uptrend from 1.2195, further rise to 1.3100 area is still possible after the consolidation. Only a breakdown below 1.2788 support would indicate that the upside movement had completed at 1.3012 already, then the pair would find support at around 1.2600.

GBPUSD 4-hour chart