Currency pair Pound Dollar GBP/USD continues its movement within the context of a growth development and the formation of a bearish “Wolff Wave” pattern. At the time of the forecast publication, the rate of the Pound against the US Dollar on Forex is 1.3408. Moving averages indicate the presence of a short-term bullish trend. Prices have breached the zone between signal lines upwards, which indicates pressure from buyers of the currency pair and potential continuation of growth in the instrument. Currently, we should anticipate an attempt at the development of upward movement in the GBP/USD course and testing the resistance area close to 1.3455. From where a bounce back in the price pair downwards is expected and continuation of the decline in the GBP/USD currency pair. The target for depreciation of the pair, within the Forex forecast, is the zone at the level of 1.3235.
GBP/USD Forecast and Analysis for May 23, 2025
Additional signals in favor of the currency pair depreciation will be a test of the resistance line on the Relative Strength Index (RSI) indicator. A second signal for a drop would be a rebound from the upper border of the reversal pattern “Cliff”. Cancellation of the option for a fall in the currency pair GBP/USD will be a strong rise and penetration of the resistance area with price stabilization above 1.3535. This will indicate a breach of the resistance level and continued growth of the GBP/USD pair to the area around 1.3765. To expect confirmation of depreciation should occur upon breaking the support area and closing below 1.3345, indicating a breach of the lower boundary of the “Wolves’ Wave” pattern and beginning the implementation of the downward target pattern.
GBP/USD Forecast and Analysis for May 23, 2025 anticipates an attempt at growth development and testing the resistance area near level 1.3455. Then, continuation of the decline with a target near level 1.3235. An additional signal in favor of the British Pound’s depreciation will be the test of the resistance line on the Relative Strength Index (RSI) indicator. Cancellation of the downside option will be a strong rise in the British Pound against the US Dollar and breaking through the area of 1.3535. This will indicate continuation of growth on the Forex pair with potential target above level 1.3765.
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