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: September 24, 2020

If we look at the daily chart of the GBP/USD currency pair, we see a defined downtrend beginning at the September high. Currently GBPUSD is trading at the 200 SMA (yellow line) and below the 50 days SMA (green line) and 20 days SMA (blue line).

GBPUSD forecast daily chart
GBP/USD forecast : testing support at 200 days SMA (Chart: TradingView)

Resistance:  1.3000 | 1.3500
Support: 1.22750

GBP/USD forecast: The daily chart of GBP/USD is showing an established downtrend. We expect to see more weakness with next target at 1.26000

GBP/USD forecast: Weekly chart

Last Update: September 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 March low. GBP/USD has now approached strong resistance at the 2009 low and also the December 2019 high. In the last three weeks GBP/USD has corrected until the 20 weeks SMA (blue line) and 50 weeks SMA (green line).

GBPUSD forecast of weekly chart
GBP/USD forecast : Correction of the uptrend (Chart: TradingView)

Resistance:  1.3501 | 1.3683
Support: 1.2359

GBP/USD forecast:  The major currency pair has reached resistance at the 2009 low (1.3501) and the long term downtrend line, which could prevent further price advance. We expect to see a continuation of the bearish bias with next target around the July low.

GBP/USD forecast: Monthly chart

Last Update: September 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: Mayor resistance at 1.3501 (2009 low) and downtrend line (Chart: TradingView)

Resistance:  1.3501 | 1.3683
Support: 1.2000 | 1.1904

GBP/USD forecast: The monthly chart of GBP/USD looks neutral with strong resistance above 1.3500. We expect to see a continuation of the trading range below 1.3500 with next target the July low at 1.2359. A rise above the 2001 low at 1.3683 could turn the monthly chart positive.

GBP/USD forecast: Quarterly chart

Last Update: September 04, 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 downtrend line is mayor resistance.

GBPUSD forecast of quarterly chart
GBP/USD prediction: Mayor 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 quarterly 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 rise above the 2001 low at 1.3683 could turn the chart positive.

GBP/USD prediction: Yearly chart

Last Update: September 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 is mayor resistance.

GBPUSD long term price prediction with yearly chart
GBP/USD long term prediction: Mayor 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 negative with strong resistance above 1.3500. We expect to see a continuation of the trading range below 1.3500.

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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