The GBP/USD currency pair ended the trading week with a sharp decline near the 1.3420 mark. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines upwards, indicating pressure from sellers and a potential continuation of the British pound’s rise against the US dollar from current levels. At this point, we can expect an attempt at a bullish correction of quotes and a test of the resistance area near the 1.3575 level. Further, a rebound downwards and a continuation of the fall in the pound-dollar quotes to the area below the level of 1.2825.
GBP/USD Weekly Forecast July 28 — August 1, 2025
An additional signal in favor of a decline in the British pound will be a test of the resistance line on the relative strength indicator. The second signal will be a rebound from the upper border of the “Head and Shoulders” reversal pattern. A strong rise in quotes and a breakout of the 1.3965 area will cancel the possibility of a decline in the GBP/USD pair during the current trading week of July 28-August 1, 2025. This will indicate a breakout of the resistance area and continued growth to above the 1.4285 level. Confirmation of a decline in the GBP/USD currency pair will be a breakout of the support area and a close below the 1.3245 level, which will indicate a breakout of the lower border of the “Head and Shoulders” reversal pattern and the beginning of the pattern’s realization with targets below.
GBP/USD Weekly Forecast July 28 — August 1, 2025 suggests an attempt to develop a bullish correction and test the resistance level near the 1.3575 area. From there, we can expect the currency pair to continue falling with a target below the 1.2825 area. An additional signal in favor of a decline will be a test of the trend line on the relative strength indicator. A strong rise and a breakout of the 1.3965 level will cancel the possibility of a decline in the pound-dollar pair. In this case, we can expect the pair to continue growing with a potential target above the 1.4285 level.
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