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22.10.202013:23 Forex Analysis & Reviews: GBP/USD analysis for October 22, 2020 - Potential for strong rally towards 1.3300. Breakout of the trading range happened yesterday....

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There isn't much else besides the headline comment for now, and it is likely he won't be touching on policy at all in the panel discussion today as it pertains more towards sustainable finance and climate change.

Cable trades at 1.3117 currently, off earlier lows of 1.3084 as the greenback keeps steadier on the session but not really significantly retracing its losses yesterday - for now at least.

Further Development

Analyzing the current trading chart of GBP/USD, I found that the buyers are in control and there is the breakout of the consolidation, which is good sign for further upside movement.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Ethanol and Sugar today and on the bottom Lumber and Orange Juice.

Key Levels:

Resistance: 1,3175 and 1,3300

Support level: 1,3080

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