Technical analysis 30 October 2025 GBP/USD H-1 
The wave structure here is still ascending, the MACD indicator is in the upper buy zone, but is already falling below its signal line. The second indicator used, the CCI, has entered the upper overheating zone. Starting in the spring and throughout the summer, the price fluctuated widely, but remained relatively stable. Of course, I'm talking about the higher-end daily and weekly timeframes; of course, there were some significant large movements on the shorter timeframes. * Current Consolidation: As your chart ends, the price is hovering around 1.3205. This is a classic "test" of the old support level, which has now become new resistance.
* Indicator: RSI (14) * Your chart shows the RSI at 43.71. * Because this is below 50, it confirms that bearish momentum is in control. * It is not yet "oversold" (below 30), suggesting there could be more room for the price to fall if the 1.3220 resistance holds. *
Indicator: MACD (12, 26, 9) * The MACD line is well below the zero line, which confirms the overall bearish trend. * However, the MACD line is starting to "hook" upwards, and the histogram bars are very small. This indicates that the strong selling momentum has faded, leading to the current sideways consolidation. 2.
Current Market Update (October 30, 2025) My search for live market data confirms that the situation you identified is still in play. *
Current Price: As of this morning, GBP/USD is trading in a very tight range, hovering right around the 1.3205 - 1.3210 level.
* The "Why" (Fundamental Drivers): *
Pound (GBP) Weakness: The large drop seen on your chart was fueled by news yesterday of a larger-than-expected £20bn+ "fiscal hole" in the UK's finances and concerns about slowing economic growth. This is pressuring the pound as it increases speculation that the Bank of England may have to cut interest rates. *
Dollar (USD) Strength: The US Federal Reserve cut interest rates yesterday (Oct 29). However, the US dollar rallied because the Fed's statement was "hawkish," signaling it was not in a hurry to cut rates again in December. 3.
Key Levels & Outlook for Today (October 30) Today is all about whether the 1.3220 resistance will hold. *
???? Immediate Resistance: 1.3220 * This is the most important level. As long as the price stays below 1.3220, the bearish outlook remains intact. Sellers are likely to defend this level. *
Immediate Support: ~1.3150 * This was the low point of the sharp drop seen on your chart. If the 1.3220 resistance holds and sellers push the price back down, this will be the first target.
Volatility Warning: High-Impact US Data Ahead The market is currently quiet because it is waiting for major US economic data releases later today. Expect significant volatility as these numbers are published.
* US GDP (Q3 Advance Estimate) * US Core PCE Price Index (the Fed's preferred inflation gauge) * US Initial Jobless Claims These data points will heavily influence the US dollar and will likely be the catalyst that breaks the GBP/USD out of its current tight consolidation. This October would have been a good time to look further back, which is usually the case when looking at monthly candlesticks. However, nothing came of it. October saw a significant increase, and how long this would last was unclear; there was only space above, and nothing that could stop this growth. But now the long-awaited correction has occurred, reaching almost the 50 Fibonacci correction level. It's unclear what will happen today, given the Fed's interest rate announcement, so we'll have to wait it out.
