The Pound/Dollar GBP/USD currency pair continues to move as part of a developing correction and the formation of a “Wedge” reversal pattern. At the time of publication of the forecast, the Pound/US Dollar exchange rate on Forex is 1.3261. Moving averages indicate a short-term bearish trend. Prices have broken below the area between the signal lines, indicating downward pressure from sellers of the currency pair and a potential further decline in the instrument. At this point, we expect an attempt to continue the decline in the British Pound against the US Dollar and a test of the support area near 1.3220. From there, we should expect another upward rebound and continued growth in the British Pound against the US Dollar. The target for the pair’s upside, according to the Forex forecast, is 1.3525.
GBP/USD Forecast and Analysis for April 8, 2026
An additional signal in favor of the currency pair’s growth will be a test of the trend line on the relative strength indicator (RSI). A second signal in favor of a decline will be a rebound from the lower boundary of the Wedge reversal pattern. A reversal of the GBP/Dollar pair’s growth will be canceled if it declines and breaks the support area, with the price consolidating below 1.3025. This will indicate a break of the lower boundary of the Wedge reversal pattern and a continuation of the GBP/Dollar decline toward 1.2805. Expect confirmation of the pair’s growth with a breakout of the resistance area and a price close above 1.3345, which would indicate a breakout of the upper boundary of the Wedge reversal pattern and the beginning of the pattern’s implementation with targets above.
GBP/USD Forecast and Analysis for April 8, 2026 suggests an attempt to develop a bearish correction and test the support area near 1.3220. Then, continued growth with a target near 1.3525. An additional signal in favor of the British Pound’s rise would be a test of the support line on the relative strength indicator (RSI). A decline in the British Pound against the US Dollar and a breakout of 1.3025 would cancel the upward trend. This would indicate a continued decline in the Forex pair with a potential target below 1.2805.
