GBPUSD Analysis October 25, 2020

On the monthly timeframe we have buyers stepping in above the moving averages after they’ve crossed back to being bullish. Last week we formed an inverted hammer candle which normally signifies signs of reversal. We could be heading bullish. If we look on the H4 timeframe we can see that we are trending bullish but are currently within a pullback in this trend. Down to the M30 we can see downtrend structure and until this breaks we can ride this out for short term opportunity.