The Pound/Dollar GBP/USD currency pair continues to move within a developing correction and bearish channel. At the time of publication of the forecast, the Pound to US Dollar exchange rate on Forex is 1.3610. Moving averages indicate a short-term bullish trend. Prices have broken above the area between the signal lines, indicating pressure from buyers of the currency pair and potential continued growth. At this point, we should expect an attempt at a bullish correction in the British Pound against the US Dollar and a test of the resistance area near 1.3535. From there, we should expect another downward rebound and a continued decline in the British Pound against the US Dollar. The target for the pair’s decline, according to the Forex forecast, is 1.3325.
GBP/USD Forecast and Analysis for May 8, 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 upper boundary of the bearish channel. A strong rally and a breakout of the resistance area with a price consolidation above 1.3655 would cancel the downward scenario for the GBP/Dollar pair. This would indicate a breakout of the upper boundary of the bearish channel and a continued rise in the GBP/USD exchange rate to 1.3835. Expect confirmation of the pair’s decline with a breakout of the support area and a price close below 1.3515, which would indicate a breakout of the lower boundary of the bullish channel.
GBP/USD Forecast and Analysis for May 8, 2026 suggests an attempt to develop a bullish correction and test the resistance area near 1.3535. Then, a continued decline in quotes with a target near 1.3325. An additional signal supporting 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 1.3655 would cancel the downward scenario. This would indicate a continued rise in the Forex pair with a potential target above 1.3835.
