USNAS100 | 29,610 Pivot as GDP Tests the Fed NarrativeUS Nas 100OANDA:NAS100USDSroshMayiUSNAS100 NAS100USD remains under short-term bearish pressure as investors continue to digest the Federal Reserve’s inflation message while preparing for today’s U.S. Q3 GDP release. The Fed continues to acknowledge that inflation remains elevated, keeping the possibility of restrictive monetary policy in focus. Attention now turns to GDP, which is expected around 3.2% annualized compared with 2.2% previously. For Nasdaq, the GDP reaction is especially important because technology valuations are highly sensitive to Treasury yields. A stronger-than-expected GDP result could show that the U.S. economy remains resilient enough for the Fed to maintain restrictive policy for longer. If that pushes Treasury yields higher, growth and technology stocks could face additional pressure. Conversely, a softer GDP result could ease rate expectations and Treasury yields, providing room for a recovery in Nasdaq. Technically, 29,610 is the key pivot. As long as USNAS100 remains below this level, bearish momentum stays active toward 29,400 A confirmed break below 29,400 would strengthen the bearish structure and expose 29,260 and 28,800 On the upside, Nasdaq needs a confirmed 1H close above 29,610 to weaken the immediate bearish pressure. That would open the way toward 29,820 However, a confirmed break above 29,820 is required to establish a stronger bullish trend toward 30,200