The GBP USD rate forecast for the week 01/25/2021 - 01/29/2021 is being prepared at the British pound rate of 1.3680.
The currency pair is still in an uptrend within the channel. GBP / USD quotes are located above the Ichimoku cloud indicator, which also confirms the upward trend for the currency pair.
A serious resistance level will be 1.3800. This is a strong Fibonacci extension level, as well as the upper border of the channel, beyond which the pound rate has not gone beyond 3 months.
In case of breaking through the resistance level and fixing the GBP USD forex quotes above 1.38, the currency pair will strive to fulfill the long-term forecast, with the goal of 1.4220
Support levels are short-term 1.3640 and medium-term 1.3420.
No strong news is planned on Monday, January 25, therefore, at the beginning of the week, trends in GBP / USD will develop as part of technical analysis. Tuesday morning - news on average wages, as well as unemployment. This may partially affect intraday trading.
A short-term rollback to the support area is not excluded, with a further continuation of the growth of the GBP / USD rate within the upward channel.
Thus, Forex forecast for the British pound GBP / USD for the week of January 25-29, 2021 assumes a short-term rollback to the support area and continued growth of the GBP USD currency pair.