The GBP/USD currency pair continues to move within a developing correction and bullish channel. At the time of publication of this forecast, the GBP/USD exchange rate on Forex is 1.3683. Moving averages indicate a short-term bullish trend. Prices have broken above the area between the signal lines, indicating upward pressure from buyers of the currency pair and potential continued growth. Currently, we expect an attempt to develop a correction in the British Pound against the US Dollar exchange rate and a test of the support area near 1.3625. From there, we expect another upward rebound in the pair and continued growth in the British Pound against the US Dollar currency pair. The target for the pair’s upside, as per the Forex forecast, is the area around 1.4045.
GBP/USD Forecast and Analysis for February 4, 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 an uptrend will be a rebound from the lower boundary of the bullish channel. A decline and a breakout of the support area with a price consolidation below 1.3485 would cancel the upward trend for the GBP/USD pair. This would indicate a breakout of the support level and a continuation of the decline in the GBP/USD pair toward 1.3275. Confirmation of the pair’s growth should be expected with a breakout of the resistance area and a price close above 1.3805.
GBP/USD Forecast and Analysis for February 4, 2026 suggests an attempt to continue the decline and a test of the support area near 1.3625. Then, continued growth is expected with a target near 1.4045. An additional signal supporting the British Pound’s rise 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 invalidate the upward trend. This would indicate continued declines in the Forex pair, with a potential target below 1.3275.
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