Gbpusd october 22th 2018 analysis
Since mid-September, GBPUSD has fluctuated between the supply range of 1,33472-1. 3204 and support at 1.3047. Last week’s weekly pay-as-you-run pin appeared last week. But is this weekly downtrend pins enough to cross support? At the top of the GBPUSD swing range, the recovery rate for 2018 is at 1,3503, while the downside of the weekly chart is limited by the demand region of 1.28141 to 1.2589.
On the GBPUSD daily chart, after two consecutive drops, we saw a positive correction of the support line drawn from the bottom of the 1st 2661. It is possible to expect the upside movement from this range to stand at 1.3213. The next upside target for the daily key resistance is $ 1,3155.
On Friday, the GBPUSD’s GBPUSD hit a high of $ 1.30 a barrel upside down and rebounded to $ 1.31 a barrel by a rebound in October.
Price action strategy
Given that the GBPUSD weekly chart responded to support at 1.3047 (while the downtrend was set in the weekly chart) and the GBPUSD daily chart hit the support line, we can expect further bullish moves. However, the entry into the GBPUSD purchase deal is down to 1.31 dollars in risk because of the downside of the market. However, you can use the following two scenarios for GBPUSD trades.
Given the support of GBPUSD’s long-term charts, a rebound of 1.30 and an estimate of 161.8% Fibonacci at 1.2976 could be reasonable to enter the GBPUSD purchase deal to the Rand rate of $ 1.32. This rand rate is consistent with the lower end of the weekly supply range at 1.0 3204. The GBPUSD GBPUSD trading margin could be lowered below 1.2976, or wait for a full 4-day ascendant.
Failure to collude GBPUSD to 1.30 could eventually close the GBPUSD’s GBPUSD chart at over $ 1.31 and the August rebound in 1.3117. Reactivating this range in the form of support and forming a 4-hinged uptrend can be enough to enter the GBPUSD purchase deal.