GBPUSD Currency Pair Analysis for October 29, 2026

Currency pair analysis based on modified wave analysis, Fibonacci levels, and price channels.

October 29, 2026

GBPUSD

Downtrend. The currency pair is trading between the 365 EMA and the 135 EMA. An upward truncated wave pattern has concluded with a breakout below the pivot point of wave C’s second wave. The Awesome Oscillator shows a bearish divergence, while the Stochastic Oscillator indicates an overbought condition.

Trading idea:

Sell upon the formation of a downward wave pattern.

Stop Loss: 1.3338.

Target levels: 1.3296; 1.3274.