22.10.201811:43 Forex Analysis & Reviews: GBP/USD analysis for October 22, 2018

Long-term review

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Recently, the GBP/USD pair has been trading downwards. The price tested the level of1.3015. According to the H4 time – frame, I found a confirmed head and shoulders (bearish pattern) in the background, which is a sign that sellers are in control. Most recently, I have found broken 12h balance, which is another sign of weakness. My advice is to watch for selling opportunities. The downward target is set at the price of 1.2925.

Trading recommendations for today: watch for potential selling opportunities.

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