23 October 2020, GBP/USD
Technical observation
Just like EUR, GBP went down yesterday and is still trading with an increasing bearish momentum. If you are currently flat with this pair, I would recommend you to remain so. I expect this bearish movement to continue to the supportive zone 1.2874-1.2830 followed by a clear bounce within it for bullish movements of price. However, should there be a clear break below the above zone 1.2874-1.2830 with a big red candle; you can anticipate a surge to the lower side after a correction to the just broken zone and a rejection within it. Right now on the daily chart above, only bullish positions look ideal.
Trade recommendation
Remain neutral.