GBP/USD Forecast and Long Term Prediction (2020)

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: December 24, 2020

GBP/USD has now reached the 2009 low and important psychological 1.3500 level.

GBPUSD forecast daily chart
GBP/USD forecast: Key resistance around 1.3500 (Chart: TradingView)

Resistance:  1.3500 | 1.3683
Support: 1.3200

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 1.3280. Only a drop below 1.3200 could turn the positive chart picture to negative.

GBP/USD forecast: Weekly chart

Last Update: December 24, 2020

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. GBP/USD has now approached strong resistance at the 2009 low and 2001 low.

GBPUSD forecast of weekly chart
GBP/USD forecast : Strong resistance zone around 1.3500 (Chart: TradingView)

Resistance:  1.3501 | 1.3683
Support: 1.3130

GBP/USD forecast:  The major currency pair has reached key resistance at the 2009 low (1.3501). The long term diagonal resistance line has been crossed, which is a posiive event. The weekly chart picture slightly positive, as long as the December low at 1.3134 holds.

GBP/USD forecast: Monthly chart

Last Update: December 24, 2020

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 and could again not move trough major resistance at the 2009 low and the long term downtrend.

GBPUSD forecast monthly chart
GBP/USD forecast: Major resistance level between 1.35 and 137 (Chart: TradingView)

Resistance:  1.3501 | 1.3683
Support: 1.3130

GBP/USD forecast: The monthly chart of GBP/USD looks positive. We expect to see a continuation of uptrend. A rise above the 2001 low at 1.3683 could trigger more price advance. On the flip side, only a drop below the December low at 1.3130 could turn the positive chart picture to neutral or negative.

GBP/USD forecast: Quarterly chart

Last Update: December 24, 2020

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 2009 low is major resistance.

GBPUSD forecast of quarterly chart with long term quarterly resistance line
GBP/USD prediction: Major resistance at 1.3501 (2009 low) and downtrend line (Chart: TradingView)

Resistance:  1.3501 | 1.3683
Support: 1.2819

GBP/USD Prediction: The quarterly chart of GBP/USD looks neutral with strong resistance between 1.3500 and 1.3700. A rise above the 2001 low at 1.3683 could turn the chart to positive and trigger more price advance to the 2018 high at 1.4376. On the flip side, a price decline below the fourth quarter low could turn the neutral chart to negative and trigger more weakness.

GBP/USD prediction: Historical chart (Yearly chart)

Last Update: December 04, 2020

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 low is major resistance.

Historical Chart - GBPUSD long term price prediction with yearly chart
GBP/USD long term prediction: Major resistance at 1.3501 (2009 low) and downtrend line (Chart: TradingView)

Resistance:  1.3501 | 1.3683
Support: 1.2000 | 1.1904

GBP/USD Prediction: The yearly chart of GBP/USD looks neutral to negative with strong resistance above 1.3500. We expect to see a continuation of the trading range below 1.3500. A price advance above the down trend line could lead to more strength up 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.

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