Chart of the Day – GBPUSD – (August 2nd, 2023)

<div><p><div><h2 itemprop="headline">The GBPUSD is at key support ahead of the BOE tomorrow</h2><div><div></div></div></div><br />
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Ahead of the Bank of England rate decision tomorrow the GBPUSD has slumped to the 1.2700 level, and more specifically channel support at 1.2680. This is a key support ahead of the bank of England rate decision tomorrow. The fall has been fairly aggressive since the 1.3100’s so any rally attempt following a hike (25bps or a 50bps with a dovish slant) may find sellers on any rally towards the 1.2850 level.</p>
<p><img decoding="async" class="alignnone size-full wp-image-10650" src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/GBPUSD_2023-08-02_12-09-42.png" alt="" width="1502" height="839" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/GBPUSD_2023-08-02_12-09-42.png 1502w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/GBPUSD_2023-08-02_12-09-42-400×223.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/GBPUSD_2023-08-02_12-09-42-800×447.png 800w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/GBPUSD_2023-08-02_12-09-42-768×429.png 768w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/GBPUSD_2023-08-02_12-09-42-1500×838.png 1500w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/GBPUSD_2023-08-02_12-09-42-705×394.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/GBPUSD_2023-08-02_12-09-42-450×251.png 450w" sizes="(max-width: 1502px) 100vw, 1502px" /></p>
<p>Blake Morrow</p>
<p>Our <a href="https://www.forexanalytix.com/blog/category/technical-analysis/chart-of-the-day/">“Chart of the Day”</a> feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, <a href="https://traderfundingprogram.com/?ref=blake">click here to learn more</a>. Trade our money, take 75% of the gains and none of the risk.</p>
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</div></section></p></div><section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Steve Voulgaridis</p>
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