The British Pound to US Dollar (GBP/USD) exchange rate is one of the world’s most traded currency pairings.
In this article we make a GBP/USD forecast and longterm price prediction. We would like to give an assessment of the future price development of British Pound/US-Dollar. We look at all important time frames like the daily, weekly and monthly chart, but also the long term charts for GBP/USD, which are the quarterly and yearly charts. The basis of our analysis is Price Action and Technical Chart Analysis.
The charts used are from TradingView and the prices are from FXCM.
GBP/USD forecast: Daily chart
Last Update: July 25, 2021
GBP/USD has overcome the 2001 low and important psychological 1.3500 level. The support at the low of 2001 was recently tested. Actually, the price is dealing with the levels around 1.3740.
Resistance: 1.4042 | 1.4376
Support: 1.3683 | 1.3501
GBP/USD forecast: The daily chart of GBP/USD is showing an established uptrend, so we could expect a continuation of the last price advance. The positive chart picture will turn to neutral if we see a break below the new support level at 1.3500. Only a drop below 1.3200 could turn the positive chart picture to negative.
GBP/USD forecast: Weekly chart
Last Update: July 25, 2021
If we look at the weekly chart of the GBP/USD currency pair, we see an established uptrend, which has started at the 2020 March low. Former resistance at the 2001 low is tested for support.
Resistance: 1.4042 | 1.4376
Support: 1.3683 | 1.3501
GBP/USD forecast: The major currency pair was able to overcome the key resistance at the 2001 low. The weekly chart picture has a positive outlook, as long as the 2009 low at 1.3501 can withstand.
GBP/USD forecast: Monthly chart
Last Update: July 25, 2021
If we look at the monthly chart of the GBP/USD currency pair, we see a long-term downtrend that originated at the 2007 high at 2.1161. The last four years GBP/USD is moving sideways in a big trading range. Apparently, it can break through major resistances of the 2009 and 2001 low and weaken the downtrend structure.
Resistance: 1.4042 | 1.4376
Support: 1.3683 | 1.3501
GBP/USD forecast: The monthly chart of GBP/USD looks positive. We expect to see a continuation of the upwards movement. A rise above the 2018 high at 1.4376 could trigger a trend reversal. On the flip side, only a drop below the December low at 1.3130 could turn the chart picture to neutral or negative.
GBP/USD forecast: Quarterly chart
Last Update: July 25, 2021
If we look at the quarterly chart of the GBP/USD currency pair, we see a long-term downtrend that originated at the 2007 high at 2.1161. The last four years GBP/USD is moving sideways in a big trading range. The long-term diagonal resistance line, together with the 2001 low and the 2009 low, formed an important resistance zone that could have been overcome by the previous quarterly candlesticks.
Resistance: 1.4376
Support: 1.3683 | 1.3501
GBP/USD Prediction: The quarterly chart of GBP/USD looks positive after it was able to overcome the resistance between 1.3500 and 1.3700. We could expect more price advance to the 2018 high at 1.4376. On the flip side, a price decline below the fourth quarter’20 high could turn the positive outlook to neutral.
GBP/USD prediction: Historical chart (Yearly chart)
Last Update: July 25, 2021
If we look at the yearly chart of the GBP/USD currency pair, we see a long-term downtrend that originated at the 2007 high at 2.1161. The last four years GBP/USD is moving sideways in a big trading range. The long term downtrend line together with the 2001 low and 2009 could work as support now.
Resistance: 1.4376
Support: 1.3501
GBP/USD Prediction: The yearly chart of GBP/USD looks neutral to positive after the resistance line was overcome. The 2020 candlestick has formed a strong hammer signal. The price advance above the 2020 high at 1.3686 could lead to more strength up to the 2018 high at 1.4376.
What is the current price of GBP/USD ?
The current price of GBP/USD you can see here.
About GBP/USD
GBP/USD, often referred to as “The Cable”, a foreign exchange term used to describe the British pound vs the US dollar, is one of the oldest traded currency pairs. The Currency Pair GBP/USD is the shortened term for the British Pound against U.S. dollar pair, or cross for the currencies of Great Britain (GBP) and the United States (USD). … For example, if the pair is trading at 1.30, it means it takes 1.3 U.S. dollars to buy 1 British Pound.
*This price prediction is based on the data collected from various sources. This should not be considered as an investing parameter and user should do their own research before investing.
Do you think our predictions are accurate? What are your thoughts on the methods used to reach our conclusions? Let us know in the comments below.