The Pound/Dollar GBP/USD currency pair continues to move within the framework of a developing bullish correction and the formation of a “Wedge” reversal pattern. At the time of publication of the forecast, the Pound to US Dollar exchange rate on Forex is 1.3344. Moving averages indicate a short-term bearish trend. Prices are once again testing the area between the signal lines, indicating selling pressure on the currency pair and a potential further decline. Currently, we should expect an attempt at a bullish correction in the British Pound against the US Dollar exchange rate and a test of the resistance area near 1.3385. From there, we should expect another downward rebound in the pair and a continued decline in the British Pound against the US Dollar currency pair. The target for the pair’s decline, according to the Forex forecast, is 1.3185.
GBP/USD Forecast and Analysis for March 18, 2026
An additional signal for a decline in the currency pair will be a test of the trend line on the relative strength indicator (RSI). A second signal for 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 the price consolidating above 1.3495, would cancel out the downward scenario for the GBP/USD currency pair. This will indicate a breakout of the upper boundary of the descending channel and continued growth in the GBP/USD pair toward 1.3645. Expect confirmation of the pair’s decline with a breakout of the support area and a price close below 1.3275, which would signal a breakout of the lower boundary of the Wedge reversal pattern and the beginning of the pattern’s implementation with targets below.
GBP/USD Forecast and Analysis for March 18, 2026 suggests an attempt to develop a bearish correction and test the resistance area near 1.3385. Subsequently, a continuation of the decline in quotes with a target near 1.3185. 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 trend. This would indicate a continued rise in the Forex pair with a potential target above 1.3645.
