GBPUSD price is increasing 0.3%
November 2, 2026
NEWS: GBPUSD price is increasing 0.3% ahead of Thursday’s Bank of England interest rate decision where an increase of 25 basis point is currently expected
Possible Scenarios:
If GBPUSD fails to breach through R2 of 1.34407, our Analysis Department expects GBPUSD to undergo a short- term downward correction.
If GBPUSD manages to break above its R2 of 1.34407, our Analysis Department expects GBPUSD to extend its gains to its R3 of 1.34604.
Support and Resistance Levels:
|
GBPUSD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
1.33294 |
1.33491 |
1.33687 |
1.33949 |
1.34211 |
1.34407 |
1.34604 |
Potential Profit or Potential Loss Calculations:
|
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
|
(+/-) $100 |
(+/-) €89.24 |
(+/-) £74.49 |
|||
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.12063
***GBP/USD = 1.34241
Calculations for exchange rate used as of Monday, November 2, 2026, 8:37: AM