GBPUSD Analysis October 18, 2020

FX:GBPUSD   British Pound / U.S. Dollar
On the monthly timeframe we are seeing a bearish engulfing candle from last month. On the weekly timeframe we closed last week below the 200 day moving averages showing sellers are still in control. On the H4 timeframe we just broke out of an ascending channel to the downside. We will look for more downside movement this week as USD gains against GBP


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