The GBP/USD currency pair is ending the trading week on a upward 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 1.3592. Moving averages indicate a bullish trend. Prices have broken above the area between 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 1.3365. Subsequently, an upward rebound and continued growth of the GBP/USD exchange rate to above 1.4325 are expected.
GBP/USD Weekly Forecast May 4 – 8, 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 book-length boundary of the Triangle pattern. A decline in the GBP/USD pair and a breakout of the 1.3035 area will cancel out the upside potential for the week of May 4-8, 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 1.3865 will confirm the GBP/USD pair’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 May 4 – 8, 2026 suggests an attempt to develop a bearish correction and test the support level near 1.3365. From here, we should expect continued growth in the pair with a target above 1.4325. 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 1.3035 would cancel out the GBP/USD pair’s upward trend. In this case, we should expect continued declines with a potential target below 1.2775.
