Currency pair Pound Dollar GBP/USD concludes the trading week within the development of a sideways correction and a bullish channel near the level of 1.3295. Moving averages indicate the presence of a bearish trend. Prices broke through the area between signal lines upwards, which indicates pressure from sellers and potential continuation of the rise in the British Pound’s value against the US Dollar already at current levels. At this point, it is worth expecting an attempt to develop growth and testing the resistance zone near the level of 1.3345. A downward bounce and continued fall in the Pound Dollar quotes down to a region below the level of 1.2715 could follow.
GBPUSD Weekly Forecast May 19 — 23, 2025
Additional indication of the British Pound’s depreciation will be testing the resistance line on the Relative Strength Index (RSI). The second signal will be a rebound from the upper border of the bull channel. Cancellation of the GBP/USD pair drop for the current trading week 19 – 23 May 2025 will be a strong increase in quotations and breaking the area of 1.3765. This would indicate a break through the resistance zone and continuation of growth into the region above the level of 1.4155. Confirmation of depreciation for the currency pair GBP/USD will be a break through the resistance zone and closing price above the level of 1.3065, which would indicate breaking through the lower border of the bull channel.
GBPUSD Weekly Forecast May 19 — 23, 2025 anticipates a bullish correction attempt and testing of the resistance level near the area of 1.3345. Below this, we should anticipate further depreciation of the currency pair towards an area below 1.2715. An additional signal for falling would be retesting of the trend line on the relative strength indicator. A rejection of the bearish scenario for the Pound Dollar pair will be a strong rise and breaking through the level of 1.3765. In this case, we should anticipate continued growth of the pair with a potential target above the level of 1.4155.
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