GBPUSD Daily Analysis – November 11, 2019

GBPUSD broke below 1.2788 support and extended its downside movement from 1.2975 to as low as 1.2768. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 1.2700 area. On the upside, a break of the trend line resistance would indicate that the downtrend is complete, then another rise towards 1.2950 could be seen.

GBPUSD 4-hour chart