The GBP/USD currency pair is ending the trading week on a downward trend and forming a Triangle pattern. At the time of publication of the GBP/USD forecast for the week, the British Pound to US Dollar exchange rate is 1.3527. Moving averages indicate a bullish trend. Prices have broken above the signal lines, indicating buying pressure and potential continued growth of the British Pound against the US Dollar from current levels. Currently, we expect an attempt to continue the decline and a test of the support area near 1.3375. Subsequently, an upward rebound and continued growth of the GBP/USD exchange rate to above 1.4455 are expected.
GBP/USD Weekly Forecast August 17 – 21, 2026
An additional signal in favor of the British Pound will be a test of the support line on the relative strength indicator. The second signal will be a rebound from the lower boundary of the Triangle pattern. A decline in the GBP/USD pair and a breakout of the 1.3085 area will cancel out the upside potential for the week of August 17-21, 2026. This will indicate a breakout of the support area and a continued decline below 1.2775. A breakout of the resistance area and a price close above 1.3665 will confirm the GBP/USD’s growth, signaling a breakout of the upper boundary of the Triangle pattern and the beginning of the pattern’s implementation with targets above.
GBP/USD Weekly Forecast August 17 – 21, 2026 suggests an attempt to develop a bearish correction and test the support level near 1.3375. From here, we should expect continued growth in the currency pair with a target above 1.4455. A test of the trend line on the relative strength indicator (RSI) will be an additional signal in favor of an uptrend. A decline and a breakout of 1.3085 would cancel the upward trend for the GBP/USD pair. In this case, we should expect continued declines with a potential target below 1.2775.
