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 1.3449. Moving averages indicate a bullish trend. Prices have broken below the area between the signal lines, indicating selling pressure and a potential continuation of the decline in the British Pound against the US Dollar from current levels. At this point, we should expect an attempt to continue the decline and a test of the support area near 1.3235. Subsequently, an upward rebound and continued growth in the GBP/USD exchange rate to above 1.4185 are expected.
GBP/USD Weekly Forecast August 3 – 7, 2026
An additional signal in favor of the British Pound’s growth 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 1.3075 area will cancel the upward trend for the current week (August 3-7, 2026). This will indicate a breakout of the support area and a continuation of the decline below 1.2845. A breakout of the resistance area and a price close above 1.3665 will confirm the upward trend for the GBP/USD pair, indicating a breakout of the upper boundary of the Triangle pattern and the beginning of the pattern’s realization with targets above.
GBP/USD Weekly Forecast August 3 – 7, 2026 suggests an attempt to develop a bearish correction and test the support level near 1.3235. From here, we should expect continued growth in the currency pair with a target above 1.4185. An additional signal in favor of an uptrend will be a test of the trend line on the relative strength indicator. A decline and a breakout of 1.3075 would cancel the upward trend for the GBP/USD pair. In this case, we should expect a continued decline in the pair, with a potential target below 1.2845.
