GBP/USD analysis for November 01, 2018


Recently, the GBP/USD pair has been upwards. As I expected, the price tested the level of 1.2919. According to the H1 time – frame, I have found a breakout of the 5-day downward channel, which is a sign that buyers are in control and that selling looks risky. I have also found a rising trendline active and higher highs and higher lows, which is another sign of strength. My advice is to watch for buying opportunities on the pullbacks. The upward targeti is set at the price of 1.3025.

The material has been provided by InstaForex Company -