Gbpusd october 24th 2018 analysis
In recent trading, GBPUSD was strengthened in response to the new EU bid and managed to climb to 1.3044, however, after the UK government rejected the offer, triggering GBPUSD below the October reopening rate of 1 3031 and later fall to $ 1.30. Given that part of the strength of GBPUSD buyers in the key support of 1.241 was lost (red arrow), we can expect a further downward trend towards the September opening price of 2911 and then the Rand rate of $ 1.29 Had
The downside of the GBPUSD’s quarterly chart is also shown in long-term charts. The GBPUSD weekly chart returns after falling to the bottom of the weekly supply period of 1.3472-1. 3204. The next target is GBPUSD’s weekly GBPUSD chart in the demand area of 1.2814-1.2589. In addition, the daily support line trend was breached from the floor of 1.2661, and we saw the resurgence of the market as resistance in the aftermath. The downtrend pins in this range can lower GBPUSD to 1.2804. This support is located at the bottom of the weekly demand zone at 1.2898-1.2589.
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Price action strategy
Given that all three time charts point to a further drop in GBPUSD, it’s best to look for a GBPUSD sales deal today. A rebound below 1.30 with complete downhill bundle of 4 hrs or a full-fledged Kendall can be enough to enter the GBPUSD sales deal. The key level traders should pay is $ 1.29. If the $ 1.00 level breaks down, the next GBPUSD target will be the weekly gross margin of 1.284 and support at 1. 2804 per day.