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GBP USD analysis

GBP USD analysis is carried out using a Daily timeframe.
The chart pattern that captures price action from ~ October 11, 2018 to current date captured using a bullish channel.

GBP USD forecast

 

Extremes used to identify the width of the channel are ~1.38343 and 1.19602.

Chart patterns nesting inside of one another are a common occurrence, and so it is in this case where a smaller bullish channel (tentative) identified with blue lines commenced from August 16, 2018 to Friday close (October 19,2018).

A break below ~1.27735 and especially below support in this region could result in a selloff of the GBP USD.  The minimum price expectation following price exiting the upside of the smaller channel at ~1.35761 is the upper limit of the channel at ~1.46537.

Interested in Bitcoin analysis (BTCUSD)? Check out our previous work here. Moreover,  EURJPY analysis can be found here.

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