Strategy in Play:
The GBP/USD fell from its resistance on a 30 minute time frame as predicted. This resistance zone was given in our analysis on the 21st of October. The price is trading well above the 50 day (shown in green) and the 100 day (shown in yellow) moving average which confirms that the bears have strong control. The pair has also broken the upward trend line which further confirms the above argument.
However, the RSI is trading in an oversold zone which means that the bias could soon change towards the upside.