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20.10.202111:05 Forex Analysis & Reviews: Trading forecast of GBP/USD pair on October 20, 2021

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The GBP/USD pair reached an important resistance level of 1.3828 during the previous day. This allowed us to fix most of the purchases. Today is the day of banking operations again, which means that the level of 1.3774 acts as a new reference point.

To date, the upward movement remains a medium-term momentum. The formation of bank marks indicates the presence of a large number of people willing to sell the pound at more favorable prices. There is still an 80% probability of updating the October high by next Wednesday. An excellent level to look for purchases is the level of 1.3743.

As long as the upward impulse is not broken, growth remains a profitable direction for trading. There will just be a problem if the closing of one of the European sessions occurs below the level of 1.3743. This will allow us to consider sales in the second half of October.

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