The GBP/USD currency pair continues to move within the development of growth and a bullish channel. At the time of the forecast publication, the British Pound to US Dollar exchange rate on Forex is 1.2629. Moving averages indicate a short-term bullish trend. Prices broke through the area between the signal lines upwards, indicating pressure from buyers of the currency pair and the potential continuation of the instrument’s growth.
Currently, a bearish correction attempt of the British Pound against the US Dollar and a test of the support area near the 1.2555 level are expected. From there, a rebound of the pair’s quotes upwards and the continuation of the British Pound’s growth against the US Dollar are anticipated. The target for the pair’s rise, within the Forex forecast, is the area at the 1.2865 level.
GBP/USD Forecast and Analysis for February 26, 2025
An additional signal in favor of the currency pair’s growth will be a test of the support line on the Relative Strength Index (RSI). A second signal in favor of a decline will be a rebound from the lower boundary of the bullish channel. The cancellation of the growth scenario for the GBP/USD currency pair will be a decline and a breakdown of the support area with price consolidation below the 1.2465 level. This will indicate a breakdown of the support level and a continuation of the pair’s decline to the area at the 1.2245 level.
GBP/USD Forecast and Analysis for February 26, 2025 suggests an attempt to develop a decline and test the support area near the 1.2555 level. Then, a continuation of the rise with a target near the 1.2865 level is expected. An additional signal in favor of the British Pound’s growth will be a test of the support line on the Relative Strength Index (RSI). The cancellation of the growth scenario will be a decline of the British Pound against the US Dollar and a breakdown of the 1.2465 area. This will indicate a continuation of the Forex pair’s decline with a potential target below the 1.2245 level.
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