The Pound Dollar GBP/USD currency pair continues to move within a developing bearish correction and bullish channel. At the time of publication of the forecast, the GBP to US Dollar exchange rate on Forex is 1.3654. Moving averages indicate a short-term bullish trend. Prices have broken above the area between the signal lines, indicating buying pressure on the currency pair and potential continued growth. Currently, we expect an attempt to correct the British Pound against the US Dollar exchange rate and test the support area near 1.3585. From there, we should expect another upward rebound and continued growth in the British Pound against the US Dollar currency pair. The target for the pair’s upside, according to the Forex forecast, is 1.3945.
GBP/USD Forecast and Analysis for February 3, 2026
An additional signal for the currency pair’s upside will be a test of the trend line on the Relative Strength Index (RSI). A second signal for an upside will be a rebound from the lower boundary of the bullish channel. A decline and a breakout of the support area, with the price consolidating below 1.3485, would cancel out the upward trend for the GBP/USD currency pair. This will indicate a breakout of the support level and a continued decline in the GBP/USD pair toward 1.3315. Expect confirmation of the pair’s growth with a breakout of the resistance area and a price close above 1.3745.
GBP/USD Forecast and Analysis for February 3, 2026 suggests an attempt to extend the decline and test the support area near 1.3585. Subsequently, continued growth with a target near 1.3945. An additional signal in favor of an uptrend for the British Pound will 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 1.3485 would cancel the upward trend. This would indicate a continued decline in the Forex pair with a potential target below 1.3315.
