The Pound/Dollar GBP/USD currency pair is ending the trading week on a rising trend within a bullish channel near 1.3760. Moving averages indicate a bullish trend. Prices have broken above 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 bearish correction and a test of the support area near 1.3475. Subsequently, an upward rebound and continued growth in Pound/Dollar quotes to above 1.4415 are expected.
GBPUSD Weekly Forecast February 2 – 6, 2026
An additional signal in favor of the British Pound’s rise will be a test of the support line on the relative strength indicator. A second signal will be a rebound from the lower boundary of the bullish channel. The GBP/USD pair’s growth potential for the week of February 2-6, 2026, will be cancelled if the price falls and breaks the 1.3395 area. This will indicate a breakout of the support area and a continued decline below 1.2975. A breakout of the resistance area and a price close above 1.3885 will confirm the GBP/USD pair’s growth.
GBPUSD Weekly Forecast February 2 – 6, 2026 suggests an attempt at a bearish correction and a test of the support level near 1.3475. From this point, we should expect continued growth in the pair with a target above 1.4415. A test of the trend line on the relative strength indicator (RSI) will serve as an additional signal for an upside move. The GBP/USD pair’s growth potential will be cancelled by a decline and a breakout of 1.3395. In this case, we should expect continued decline, with a potential target below 1.2975.
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