🔍 Fundamental Overview
GBP/USD continued its downward trajectory last week, pressured by a stronger dollar and weak UK macro sentiment. The pair is reacting to diverging central bank policies and cautious investor sentiment.
🇺🇸 United States:
• Fed Policy: After the September rate cut, markets expect further easing, but Fed officials remain cautious.
• Economic Data: US GDP surprised to the upside; inflation met expectations.
• Dollar Strength: Safe-haven demand and solid data support USD gains.
• Risk Factors: Government shutdown concerns and labor market data in focus.
🇬🇧 United Kingdom:
• BoE Outlook: Hawkish tone softening amid economic slowdown.
• Inflation: Sticky but moderating; CPI data due this week.
• Political Risk: Uncertainty around fiscal policy and leadership weighs on sentiment.
• Impact: GBP remains vulnerable to downside pressure.

📊 Technical Analysis
Support Levels:
• 1.3326 – recent low
• 1.3222 – intermediate support
• 1.3130 – wave target
• 1.2550 – local trend target
Resistance Levels:
• 1.3428 – corrective ceiling
• 1.3550 – breakout level
• 1.3800 – medium-term resistance
Indicators:
• MACD: Bearish continuation
• RSI: 41 – bearish zone
• SMA50: Price below moving average, confirming downtrend
• Wave Structure: Third wave in progress, targeting deeper lows

📈 Trading Scenarios
❌ Bearish Setup:
• Entry: Below 1.3326
• Targets: 1.3222 ➡️ 1.3130 ➡️ 1.2550
• Stop-Loss: Above 1.3428
• Catalysts: Strong US data, weak UK CPI, risk-off sentiment
✅ Bullish Setup:
• Entry: Above 1.3428 with confirmation
• Targets: 1.3550 ➡️ 1.3800 ➡️ 1.4000
• Stop-Loss: Below 1.3326
• Catalysts: Dovish Fed, strong UK data, risk-on flows