Chart of the Day – GBPUSD – (September 18th, 2023)

<div><p><div><h2 itemprop="headline">GBPUSD below the 200dma. </h2><div><div></div></div></div><br />
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>The GBPUSD closed below the 200dma once again. Not only did the pair close below this level today, but closed the week last week below the 200dma as well. The Bank of England decision is on Thursday, and even though the market is expecting the BOE to raise rates by 25bps and to increase quantitative tightening, however the BOE may have some dovish comments which could allow for further weakness in the GBP. A move below the 1.2300 level would target the 1.2078 127% extension next.</p>
<p><img decoding="async" fetchpriority="high" class="alignnone size-full wp-image-10762" src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/GBPUSD_2023-09-18_13-54-29.png" alt="" width="1502" height="839" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/GBPUSD_2023-09-18_13-54-29.png 1502w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/GBPUSD_2023-09-18_13-54-29-400×223.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/GBPUSD_2023-09-18_13-54-29-800×447.png 800w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/GBPUSD_2023-09-18_13-54-29-768×429.png 768w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/GBPUSD_2023-09-18_13-54-29-1500×838.png 1500w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/GBPUSD_2023-09-18_13-54-29-705×394.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/GBPUSD_2023-09-18_13-54-29-450×251.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/">&#8220;Chart of the Day&#8221;</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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<p>The post <a rel="nofollow" href="https://www.forexanalytix.com/blog/chart-of-the-day-sept-18th-2023/">Chart of the Day &#8211; GBPUSD &#8211; (September 18th, 2023)</a> appeared first on <a rel="nofollow" href="https://www.forexanalytix.com/blog">ForexAnalytix – Blog</a>.</p>