Among several currencies that stole the spotlight on Thursday's trading yesterday for the end of October, the Pound was seen as the worst.
The British currency continued to fall in the market in the face of increasing selling pressure to fall to a fresh 2-month low.
While the US dollar is seen to be a threat to the Pound when analysts see the potential for the king of the currency to strengthen in November trading.
The initial reading of US economic growth for the third quarter was slightly lower than forecast, but the PCE index met expectations for an increase and the ADP employment data recorded a jump for October, giving a positive signal ahead of tonight's NFP report.
After the mixed price movement on the GBP/USD currency pair chart was displayed last Wednesday, there was a significant plunge in the price during yesterday's Thursday trading.
At first the price was seen showing an increase to the 1.30000 level, but after several times of testing and failing to go higher, the price reversed direction and showed a plunge of up to 150 pips.
The price surge has broken through the 1.29000 support zone and hit a recent 11-week low around 1.28500.
The price bounced back to close the New York session at 1.29000 and remained flat around that in the Asian session this morning until the opening of the European session.
Seen as the current resistance, the price is expected to make a decline from 1.29000 which is likely to surpass the level reached yesterday.
New lows will be recorded again with the target to reach the 1.28000 zone.
However, if the price shows a surge above 1.29000, the price increase will re-target the 1.30000 resistance level that was tested yesterday.
