The GBP/USD currency pair continues to move within the framework of an upward trend and a bullish channel. At the time of publishing the forecast, the exchange rate of the British Pound to the US Dollar on Forex is 1.2675. Moving averages indicate a short-term bullish trend. Prices have broken through the area between the signal lines upwards, suggesting pressure from buyers of the currency pair and the potential for a continued rise of the instrument. Currently, we should expect an attempt to develop a bearish correction of the British Pound against the US Dollar and a test of the support area near 1.2565. From there, we can expect a rebound of the pair’s quotes upwards and a continuation of the rise of the GBP/USD currency pair. The target for the pair’s upward movement, according to the Forex forecast, is the area around 1.2855.
GBP/USD Forecast and Analysis for February 28, 2025
An additional signal in favor of the growth of the currency pair will be a test of the support line on the Relative Strength Index (RSI). The second signal supporting the downward movement will be a rebound from the lower boundary of the bullish channel. The scenario for the growth of the GBP/USD currency pair will be canceled by a decline and a break of the support area with a closing price below 1.2475. This will indicate a breakout of the support level and a continuation of the decline of the GBP/USD pair towards the area around 1.2265. Confirmation of the pair’s rise should come from a break of the resistance area and a closing of the price above 1.2745.
GBP/USD Forecast and Analysis for February 28, 2025 suggests an attempt to develop a decline and test the support area near 1.2565. Then, a continuation of the rise with a target near 1.2855. 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 growth scenario will be canceled by a decline of the British Pound against the US Dollar and a break of the 1.2475 area. This will indicate a continuation of the decline in the Forex pair with a potential target below 1.2265.
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