The GBP/USD currency pair is ending the trading week within a declining trend and a descending channel near 1.3402. Moving averages indicate a bullish trend. Prices have broken upwards through the area between the signal lines, indicating buying pressure and a potential continuation of the decline in the British Pound against the US Dollar from current levels. Currently, we expect an attempt at a bullish correction and a test of the resistance area near 1.3545. Subsequently, a downward rebound and a continued decline in GBP/USD quotes to below 1.2845 are expected.
GBP/USD Weekly Forecast January 19 – 23, 2026
An additional signal for the British Pound to decline will be a test of the resistance line on the relative strength indicator. A second signal will be a rebound from the upper boundary of the descending channel. A strong rally and a breakout of the 1.3785 area would cancel out the GBP/USD decline this week (January 19-23, 2026). This would indicate a breakout of the resistance area and continued growth above 1.4235. A breakout of the support area and a price close below 1.3205 would confirm the GBP/USD decline, indicating a breakout of the lower boundary of the bullish channel.
GBP/USD Weekly Forecast January 19 – 23, 2026 suggests an attempt to develop a bullish correction and test the resistance level near 1.3545. From this point, we should expect continued decline in the currency pair with a target below 1.2845. A test of the trend line on the relative strength indicator would serve as an additional signal of decline. A strong rally and a breakout of 1.3785 would cancel the downward trend for the GBP/USD pair. In this case, we should expect continued upward movement with a potential target above 1.4235.
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