![(05 OCTOBER 2018)GBP/USD:Bullish bias above 1.2995. (05 OCTOBER 2018)GBP/USD:Bullish bias above 1.2995.](https://c.mql5.com/6/815/splash-721632.jpg)
![Jiming Huang Jiming Huang](https://c.mql5.com/avatar/2015/11/563C54E3-36DF.jpg)
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Pivot (invalidation): 1.2995
Our preference
Long positions above 1.2995 with targets at 1.3040 & 1.3060 in extension.
Alternative scenario
Below 1.2995 look for further downside with 1.2970 & 1.2950 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be
limited. The pair has broken above the upper boundary of a bearish channel drawn from
September 27.
(By Swissquote TRADING CENTRAL)