GBP/USD Tests Key Support Levels!Great British Pound vs US DollarCFI:GBPUSDCFIGBP/USD is declining for a second consecutive week and approaching horizontal support near 1.3170. The pair is down about 1.1% since the start of the week, its biggest weekly drop in roughly two months. Markets are watching how the pound reacts at these levels, since the pair has rebounded from this zone several times and it usually acts as strong support. It also marks the support of a "Diamond Pattern" formation. The pound's decline comes after the Bank of England held interest rates at 3.75%. That runs against most other central banks, particularly the US Federal Reserve, which raised rates to a range of 3.75%–4%. The Fed's move has lifted the US Dollar Index, and markets expect further hikes. With the dollar rising and the pound falling, we expect significant price moves in the coming period. The direction will depend on how the pound reacts at the support levels near 1.3170.