The GBP/USD currency pair concludes the trading week showing growth and the formation of a “Triangle” pattern. At the time of this weekly forecast, the British Pound to US Dollar exchange rate stands at 1.3383. Moving averages indicate a bullish trend. Prices have broken upward through the area between the signal lines, signaling pressure from buyers and the potential for the British Pound to continue rising against the US Dollar from current levels. In the near term, we may see a brief decline, with a test of the support area near the 1.3285 level. This should be followed by an upward rebound and a continued rise in the GBP/USD pair toward the area above 1.3885.
GBPUSD Weekly Forecast November 2 – 6, 2026
An additional signal supporting a rise in the British Pound is a test of the support line on the Relative Strength Index (RSI) indicator. A second signal would be a rebound from the lower boundary of the “Triangle” pattern. The bullish scenario for the GBP/USD pair for the week of November 2–6, 2026, would be invalidated if the price falls and breaks through the 1.3075 area. This would indicate a breach of the support zone and a continued decline toward levels below 1.2735. Conversely, a breakout above the resistance zone—with the price closing above 1.3625—would confirm the bullish outlook, signaling a break through the upper boundary of the “Triangle” pattern and the activation of the pattern with upside targets.
GBPUSD Weekly Forecast November 2 – 6, 2026 suggests an attempt at a bearish correction, testing the support level near 1.3285. From there, we can expect the pair to resume its upward movement, targeting levels above 1.3885. An additional bullish signal is provided by a test of the trend line on the Relative Strength Index (RSI). The bullish scenario for the Pound/Dollar pair would be invalidated by a decline that breaks through the 1.3075 level; in that case, further downward movement toward a potential target below 1.2735 should be expected.
