GBP/USD Set to Plunge: Rate Cut Pressure and Weak Data!GBP/USDOANDA:GBPUSDParadise_NoirCurrently, the GBP/USD pair is under strong selling pressure following macroeconomic news from the UK. Weak GDP data of only 0.1% in Q3/2025, along with the government's cancellation of the planned income tax hikes, has raised concerns about the financial stability of the UK economy. This has fueled expectations that the Bank of England (BoE) may be forced to cut interest rates soon, further pressuring the British Pound. From a technical perspective, GBP/USD is still heavily influenced by the descending trendline. The pair has failed to break the strong resistance at 1.3200, indicating that the downward trend remains intact. The nearest support level is 1.3100, and if this is broken, 1.3020 will be the next target. In conclusion, with the pressure from macroeconomic factors and technical signals, the likelihood of GBP/USD continuing its decline in the near future is very high. Traders may consider opening a SELL position when the price approaches the resistance zone.