Gbpusd october 25th 2018 analysis
Continuing worries about the future of BREXIT negotiations, coupled with the growth of the US dollar, led to a GBPUSD decline of 80 percent on Wednesday trading. GBPUSD yesterday’s GBPUSD gains showed on a daily basis in the form of a sharp downtrend, which could be a bad sign for GBPUSD. On the GBPUSD weekly chart, the currency pair fell after trading in the region of 1.3472-1.3435 last week. The next target is GBPUSD’s weekly GBPUSD chart in the demand area of 1.2814-1.2589.
The GBPUSD daily chart also saw a market failure and re-collapse below the support line line of 1.6160. The collapse triggered a daily downtrend penny on Tuesday trading. The downtrend pins triggered yesterday’s bearish movements and paved GBPUSD to 1.2400. This support is located at the upper end of the weekly demand zone of 1.2898-1.2589. On the GBPUSD’s 4-hour chart, the trend is also downtrend. Several 4-hour support broke yesterday, and most notably the Rand rate was $ 1.29. It’s quite possible that the breakdown of $ 1.29 support has paved GBPUSD’s downside path to key support of 1.2810 and 1.28.
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Price action strategy
Given that all three GBPUSD timelines indicate continued bearish movements, the range of 1,2911-1.2900 could be in the range of 1.200 after the GBPUSD sales deal. Reaction to 1.29 and the formation of a four-hour candlestick or a full downgrade may be sufficient to enter the GBPUSD sales deal. GBPUSD GBPUSD trading profit margins in 1.22814, key support 1.2810, daily support 1.284 and RND 1.28.