🔍 Fundamental Overview
GBP/USD traded in a consolidation phase last week, with the pound supported by technical rebounds but capped by mixed UK macro data and cautious global sentiment. The U.S. dollar softened slightly as Treasury yields dipped, but risk appetite remains fragile.
🇬🇧 United Kingdom:
• Economic Data: UK GDP growth slowed to 0.1% QoQ in Q3, below expectations, while industrial output contracted.
• Labor Market: Unemployment ticked up to 4.2%, signaling cooling conditions.
• BoE Outlook: Rate cut expectations for December persist amid weak growth and easing inflation.
• Political Climate: Fiscal debates continue, but no major shocks yet.
🇺🇸 United States:
• Fed Policy: Markets anticipate another rate cut by end-October; dovish tone supports risk assets.
• Macro Signals: U.S. data mixed; retail sales resilient, but housing and manufacturing show softness.
• Risk Sentiment: Dollar demand tempered by improving global risk tone and lower yields.

📊 Technical Analysis
Support Levels:
• 1.3330 – key structural support
• 1.3275 – short-term floor
• 1.3200 – extended downside target
Resistance Levels:
• 1.3470 – breakout trigger
• 1.3490 – pivot zone
• 1.3525 – bullish extension target
Indicators:
• MACD: Neutral, slight bullish divergence
• RSI: ~52 – modest upside bias
• Stochastic: Recovering from oversold
• 50-day MA: Price hovering near 1.3400; sustained close above signals bullish continuation

📈 Trading Scenarios
✅ Bullish Setup:
• Entry: Above 1.3470 with confirmation
• Targets: 1.3490 ➡️ 1.3525
• Stop-Loss: Below 1.3330
• Catalysts: Fed dovish tone, risk-on flows, UK fiscal stability
❌ Bearish Setup:
• Entry: Below 1.3330
• Targets: 1.3275 ➡️ 1.3200
• Stop-Loss: Above 1.3470
• Catalysts: Strong U.S. data, hawkish Fed signals, weak UK sentiment