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05.10.201813:24 Forex Analysis & Reviews: GBP/USD analysis for October 05, 2018

Long-term review
Company does not offer investment advice and the analysis performed does not guarantee results.
The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Exchange Rates 05.10.2018 analysis

Recently, the GBP/USD pair has been trading upwards. As I expected, the price tested the level of 1.3059. According to the H4 time – frame, I found the breakout of the supply trendline in the background, which is a sign that buyers are in control. Most recently, I have found the breakout of 20-hour balance, which is another sign of the strength. My advice is to watch for buying opportunities. Take profit levels are set at the price of 1.3117 and at the price of 1.3210.
Petar Jacimovic
Analytical expert of InstaForex
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