The GBP/USD Pound Dollar currency pair continues to move within a downward trend and a bearish channel. At the time of publication of this forecast, the GBP/USD exchange rate on Forex is 1.3552. Moving averages indicate a short-term bullish trend. Prices have broken below the signal lines, indicating downward pressure from sellers of the currency pair and potential further decline. Currently, we expect an attempt at a bullish correction in the British Pound against the US Dollar exchange rate and a test of the resistance area near 1.3605. From there, we expect another downward rebound and continued decline in the British Pound against the US Dollar currency pair. The target for the pair’s decline, according to the Forex forecast, is 1.3355.
GBP/USD Forecast and Analysis for February 6, 2026
An additional signal for a decline in the currency pair will be a test of the trend line on the relative strength indicator (RSI). A second signal for a decline will be a rebound from the lower boundary of the bullish channel, which was broken downward by sellers. A strong rally and a breakout of the resistance area, with the price consolidating above 1.3715, would cancel out the downward trend in the GBP/USD currency pair. This will indicate a breakout of the resistance level and continued growth in the GBP/USD pair toward 1.3885. Expect confirmation of the pair’s decline with a breakout of the support area and a price close below 1.3505.
GBP/USD Forecast and Analysis for February 6, 2026 suggests an attempt to develop a bullish correction and test the resistance area near 1.3605. Subsequently, a continued decline in quotes with a target near 1.3355. An additional signal for a decline in the British Pound will be a test of the resistance line on the relative strength indicator (RSI). A strong rise in the British Pound against the US Dollar and a breakout of 1.3715 would cancel this downward scenario. This would indicate a continued rise in the Forex pair with a potential target above 1.3885.
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