FX.co ★ GBP/USD

GBP/USD Good evening. The currency pair GBP/USD is ending the week with a decline, although the situation from a fundamental perspective is somewhat ambiguous. Specifically, from today's publications, we learned that inflation in the US decreased by just 0.1% in September. At the same time, there is a significant increase in the business activity index in the service sector and manufacturing sector, which the market seems to be using as a basis for choosing the direction in favor of strengthening the US dollar. Currently, the GBP/USD pair is already testing the support at 1.3280 for a downside breakout, and I am pleased that, without knowing the news, we, relying on technical analysis, precisely anticipated the continuation of the downward wave that started on October 17th from the resistance at 1.3465. If everything continues according to plan, after testing the support at 1.3280, a small upward zigzag should follow. However, after the test by the bulls of the round level at 1.3300, a continuation of the GBP/USD decline towards the pair's minimum from October 13th around the middle of the 32nd figure can be expected.