The GBP/USD currency pair continues to move within a developing correction and forming a “Triangle” pattern. At the time of publication of this forecast, the GBP/USD exchange rate on Forex is 1.3608. Moving averages indicate a short-term bullish trend. Prices have broken upwards through the area between the signal lines, indicating buying pressure on the currency pair and potential continued growth. 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 1.3575. 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, as per the Forex forecast, is the area around 1.3735.
GBP/USD Forecast and Analysis for May 12, 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 Triangle pattern. A decline and a breakout of the support area with a price consolidation below 1.3525 will cancel out the upward trend for the GBP/USD pair. This will indicate a breakout of the lower boundary of the Triangle pattern and a continuation of the decline of the GBP/USD exchange rate toward 1.3325. Confirmation of the pair’s growth should be expected with a breakout of the resistance area and a price close above 1.3665, which will indicate a breakout of the upper boundary of the Triangle pattern and the beginning of the pattern’s implementation with targets above.
GBP/USD Forecast and Analysis for May 12, 2026 suggests an attempt to develop a bearish correction and a test of the support area near 1.3575. Then, quotes are expected to continue rising with a target near 1.3735. A test of the support line on the relative strength indicator (RSI) will serve as an additional signal for a rise in the British pound. A decline in the British pound against the US dollar and a breakout of 1.3525 will cancel out this upward trend. This will indicate a continued decline in the Forex pair with a potential target below 1.3325.
