GBP/USD analysis for October 31, 2018

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Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2747. According to the H1 time – frame, I have found the bullish breakout of the 11-hour balance, which is a sign that buyers are in control today. I have also found that price broke the most recent resistance trendline, which is another sign of the strength. GBP/USD is trading inside of the downward channel and the breakout of channel will confirm a further upward movement. Watch for buying opportunities. Take profit level is set at the price of 1.2845.

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