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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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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.

The material has been provided by InstaForex Company - www.instaforex.com