The currency pair Pound/Dollar GBP/USD is finishing the trading week within the framework of strong growth and a bullish channel near 1.2937. The moving averages indicate a downward trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from sellers and a potential continuation of the decline in the British Pound against the US Dollar from current levels. At this point, we should expect an attempt to develop growth and a test of the resistance area near 1.3125. Next, a rebound downwards and a continuation of the fall in Pound Dollar quotes to the area below 1.2505.
GBP/USD Weekly Forecast March 17 — 21, 2025
An additional signal in favor of the fall of the British Pound will be a test of the resistance line on the relative strength indicator. The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the option of a decline in the GBP/USD pair in the current trading week of March 17 — 21, 2025 will be a strong growth in quotes and a breakout of the 1.3305 area. This will indicate a breakout of the resistance area and continued growth to the area above 1.3585. Confirmation of the fall of the GBP/USD currency pair will be a breakout of the support area and closing of the price below 1.2735, which will indicate a breakout of the lower border of the bullish channel.
GBP/USD Weekly Forecast March 17 — 21, 2025 suggests an attempt to develop a bullish correction and test the resistance level near the 1.3125 area. From where we should expect a continuation of the fall of the currency pair with a target below the 1.2505 area. An additional signal in favor of a decline will be a test of the trend line on the relative strength indicator. The cancellation of the fall option for the Pound Dollar pair will be strong growth and a breakout of the 1.3305 level. In this case, we should expect the pair to continue to rise with a potential target above 1.3585.
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