GBPUSD Daily Analysis – November 7, 2019

GBPUSD stays below a falling trend line on the 4-hour chart and remains in the short term downtrend from 1.2975. As long as the trend line resistance holds, the downside movement could be expected to continue, further decline to test 1.2788 support is possible. On the upside, a breakout of the trend line resistance would indicate that the downside movement is complete, then another rise to 1.2950 area could be seen.

GBPUSD 4-hour chart