GBP/USD analysis for October 29, 2018


Recently, the GBP/USD pair has been trading sideways at the price of 1.2836. Anyway, according to the daily time – frame, I have found a hammer candle (bullish) and rejection from the lower band (Bollinger band), which is a sign that selling looks risky. I have also found today that that higher high and higher low is building, which is a sign that buyers taking control. My advice is to watch for buying opportunities. The key resistance and take profit level is set at the price of 1.2920 (previous swing low).

The material has been provided by InstaForex Company -