The GBP/USD Pound Dollar currency pair continues to move within a strong growth trend and a downward channel. At the time of publication of the forecast, the GBP to US Dollar exchange rate on Forex is 1.3332. Moving averages indicate a short-term bearish trend. Prices have broken above the signal lines, indicating selling pressure on the currency pair and potential further decline. Currently, we expect an attempt at a bullish correction in the British Pound against the US Dollar and a test of the resistance area near 1.3425. From there, we expect another downward rebound and continued decline in the British Pound against the US Dollar. The target for the pair’s decline, according to the Forex forecast, is 1.3385.
GBP/USD Forecast and Analysis for July 31, 2026
An additional signal for the currency pair to decline will be a test of the trend line on the relative strength indicator (RSI). A second signal for the decline will be a rebound from the upper boundary of the “Wedge” reversal pattern. A strong rally and a breakout of the resistance area, with the price consolidating above 1.3475, would cancel out the downward scenario for the GBP/USD pair. This will indicate a breakout of the upper boundary of the descending channel and continued growth of the GBP/USD exchange rate toward 1.3685. Expect confirmation of the pair’s decline with a breakout of the support area and a price close below 1.3355, which would indicate a breakout of the lower boundary of the Wedge reversal pattern and the beginning of the pattern’s implementation with targets below.
GBP/USD Forecast and Analysis for July 31, 2026 suggests an attempt to develop a bullish correction and test the resistance area near 1.3425. Then, continued declines with a target near 1.3385. An additional signal favoring a decline in the British Pound would 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 1.3475 would cancel the downward trend. This would indicate a continued rise in the Forex pair with a potential target above 1.3685.
