Currency pair Pound Sterling US Dollar GBP/USD continues its movement within the framework of growth development and a bull channel. At the time of this forecast publication, the Pound to US Dollar exchange rate on Forex is at 1.3535. Moving averages indicate the presence of short-term bullish trend. Prices broke through the zone between signal lines upwards, which indicates pressure from the buyers of the currency pair and potential continuation of growth in the instrument. Currently, it’s expected that there will be an attempt to develop the growth of the British Pound rate against the US Dollar, testing the resistance area near 1.3585. From where one should anticipate a bounce in the pair quotes downwards and continuation of the depreciation of the British Pound Sterling against the US Dollar. The target of price reduction within this Forex forecast is at the level of 1.3335.
GBP/USD Forecast and Analysis for June 5, 2025
Additional indication of the currency pair’s depreciation will be a test of the resistance line on the Relative Strength Index (RSI) indicator. A rebound from the upper boundary of the reversal pattern “Double Peak” will be another signal in favor of decline. Cancellation of the option for currency pair depreciation Pound/Dollar would be a strong rise and a break of the resistance area with price being fixed above 1.3645 level, indicating breaking through the resistance level and continuation of the growth of the Pound/Dollar pair to an area around 1.3975. Wait for confirmation of the decline by breaking support zone and closing price below 1.3375 level, which would indicate a breakthrough of the lower boundary of the reversal pattern “Double Peak” and beginning of implementing the pattern with targets down.
GBP/USD Forecast and Analysis for June 5, 2025 anticipates an attempt at developing a bullish correction and testing the resistance area close to the level of 1.3585. Then, continuation of price drops with targets close to the level of 1.3335. An additional signal in favor of reducing the British Pound will be a test of the resistance line on the Relative Strength Index (RSI) indicator. Cancellation of the downside scenario would be a strong rise of the British Pound against the US Dollar and breaking through the area of 1.3645. This would indicate continuation of the upswing in the Forex pair with potential target above level 1.3975.
