British Pound Forecast: GBP/USD Forms Second Falling Wedge Pattern in 2026
GBP/USD Outlook: Potential for Upside After Falling Wedge Patterns
At the start of 2026, the GBP/USD currency pair formed a falling wedge pattern soon after markets reopened for the New Year. This technical setup led to a significant breakout, propelling the pair to its highest level in four years. However, much like what occurred with EUR/USD, this surge appeared to be influenced by the decline in USD/JPY. As the US Dollar regained strength, GBP/USD experienced a pullback from its recent highs.
Since reaching those peaks, another falling wedge pattern has developed, mirroring the situation seen in EUR/USD. I discussed this scenario earlier today, and it appears that both currency pairs present promising opportunities for upward movement. Both markets could offer appealing setups for traders looking for potential gains.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
CSX CORPORATION <CSX.O>: RBC CUTS TARGET PRICE TO $53 FROM $54
CANADIAN PACIFIC KANSAS CITY <CP.TO>: RBC RAISES TARGET PRICE TO C$146 FROM C$145
M&T BANK CORPORATION <MTB.N>: JEFFERIES CUTS TARGET PRICE TO $275 FROM $300
EAST WEST BANCORP, INC. <EWBC.O>: JEFFERIES CUTS TARGET PRICE TO $155 FROM $160
Crypto prices
More
