Gbpusd october 26th 2018 analysis
GBPUSD yesterday fell to 1.2796 low, which is the lowest level of the currency pair since mid-September. In yesterday’s report, the GBPUSD was priced at 1.2911-1.2900 as the appropriate range for entering the sales deal. The GBPUSD’s trading profit margin was $ 1.28. As happened on the GBPUSD’s 4-hour graph, this happened.
From the technical point of view and the analysis of price movements, the market is on the upside. On the GBPUSD’s 4-hour charts, the 1.2-dollar rate has been enabled with $ 1,2891 support. In addition, the GBPUSD’s 4-hour chart recently formed the bullish pinnacle, and the RSI indicator has also entered the saturated sales range. Daily support of 1.284 (key support) has been activated with the weekly demand area of 1.2898-1.2589.
Price action strategy
Given that all GBPUSD time charts point to continued bullish movements, entering a buying bargain from around 1.228 (above the four-hour bullish pins) could be a good idea. The loss margin should be placed under the 4-hour ascending pins. The GBPUSD trading margin was initially set at 1.2967 and afterwards at 1.29.