The Pound/Dollar GBP/USD currency pair continues to move within a developing bullish correction and a descending channel. At the time of publication of the forecast, the Pound to US Dollar exchange rate on Forex is 1.3331. Moving averages indicate a short-term bearish trend. Prices are again testing the area between the signal lines, indicating selling pressure on the currency pair and a potential further decline in the instrument. At this point, we should expect an attempt at a bullish correction in the British Pound against the US Dollar and a test of the resistance area near 1.3385. From here, we should expect another downward rebound in the pair and a continued decline in the British Pound against the US Dollar. The target for the pair’s decline, according to the Forex forecast, is 1.3090.
GBP/USD Forecast and Analysis for March 17, 2026
An additional signal favoring a decline in the currency pair will be a test of the trend line on the relative strength indicator (RSI). A second signal favoring a decline will be a rebound from the upper boundary of the descending channel. A strong rally and a breakout of the resistance area with a price consolidation above 1.3495 would cancel the downward scenario for the GBP/Dollar pair. This would indicate a breakout of the upper boundary of the descending channel and continued growth of the GBP/Dollar pair toward 1.3645. Expect confirmation of the pair’s decline with a breakout of the support area and a price close below 1.3175, which would indicate a breakout of the lower boundary of the descending channel.
GBP/USD Forecast and Analysis for March 17, 2026 suggests an attempt to develop a bearish correction and test the resistance area near 1.3385. Then, a continued decline in quotes with a target near 1.3090. An additional signal favoring a decline in the British Pound would be a test of the resistance line on the relative strength indicator (RSI). A strong rise in the British Pound against the US Dollar and a breakout of 1.3495 would cancel the downward scenario. This would indicate a continued rise in the Forex pair with a potential target above 1.3645.
