Important events today:

29.10 18:00 UTC: USD – FOMC interest rate decision

The pound is moderately weakening against the dollar ahead of the Fed’s decision, while some investors are taking profit after recent attempts at growth. The U.S. market continues to expect a Fed rate cut, but the intraday recovery of the dollar ahead of the meeting is putting pressure on GBPUSD.

Domestic factors for the pound remain mixed: recent UK inflation data came in softer than forecasts, reinforcing expectations of a more cautious Bank of England and limiting GBP’s strengthening potential. Additionally, news on the budget and government borrowing earlier in the year added volatility, pulling the pair back to the 1.33 area and below.

Analysts note that the upward momentum in GBPUSD remains unstable and largely depends on external drivers — the dollar’s performance and expectations of further Fed easing. In this environment, it is strategically reasonable to sell on rises toward 1.3275 with a target of returning to 1.3200 if the Fed’s tone is neutral or moderately cautious.

Recommendations: SELL 1.3265, SL 1.3285, TP 1.3200