US MBA Mortgage Applications down to 0.3% in October 11 from 1.3%

Axel Rudolph, Head Technical Analyst at Commerzbank suggests that the GBP/USD is finally falling through the July-to-October uptrend line at 1.5961 and targets the 38.2% Fibonacci retracement of the July-to-October advance at 1.5707 and possibly 1.5536, the 50% retracement.