The GBP/USD Pound Dollar currency pair continues to move within a developing correction and descending channel. At the time of publication of the forecast, the GBP to US Dollar exchange rate on Forex is 1.3336. Moving averages indicate a short-term bearish trend. Prices have broken below the signal lines, indicating downward pressure on the currency pair and potential further decline. Currently, we expect an attempt at a bearish correction in the British Pound against the US Dollar exchange rate and a test of the support area near 1.3265. From there, we 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 1.3545.
GBP/USD Forecast and Analysis for March 6, 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 1.3205, 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 1.2965. Expect confirmation of the pair’s growth with a breakout of the resistance area and a price close above 1.3445, which would indicate a breakout of the upper boundary of the descending channel.
GBP/USD Forecast and Analysis for March 6, 2026 suggests an attempt to develop a bearish correction and test the support area near 1.3265. Subsequently, continued growth with a target near 1.3545. 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 1.3205 would cancel the upward trend. This would indicate a continued decline in the Forex pair with a potential target below 1.2965.
