(16 OCTOBER 2018)GBP/USD:Bullish bias above 1.3130.

Pivot (invalidation): 1.3130

Our preference

Long positions above 1.3130 with targets at 1.3165 & 1.3185 in extension.

Alternative scenario

Below 1.3130 look for further downside with 1.3095 & 1.3065 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be

limited.

(By Swissquote TRADING CENTRAL)