The GBP/USD currency pair continues to move within the framework of the development of a bearish correction and a bullish channel. At the time of publication of the forecast, the Pound to US Dollar exchange rate on Forex is 1.2948. The moving averages indicate the presence of a short-term bullish trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers of the currency pair and potential continuation of the instrument’s growth. At the moment, 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 the 1.2815 level. From where we should again expect a rebound in the quotes of the pair downwards and a continuation of the fall of the British Pound against the US Dollar currency pair. The target for the pair’s decline, within the Forex forecast, is the area at 1.3185.
GBP/USD Forecast and Analysis for March 14, 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 indicator (RSI). The second signal in favor of the rise will be a rebound from the lower border of the bullish channel. The cancellation of the option with the growth of the GBP/USD currency pair will be a fall and a breakout of the support area with the price fixing below the level of 1.2725. This will indicate a breakout of the support level and a continuation of the fall of the GBP/USD pair to the area at 1.2535. It is worth expecting confirmation of the pair’s growth with a breakout of the resistance area and the price closing above the level of 1.2995.
GBP/USD Forecast and Analysis for March 14, 2025 suggests an attempt to develop a fall and test the support area near the level of 1.2815. Then, continued growth with a target near the level of 1.3185. An additional signal in favor of the rise of the British Pound will be a test of the support line on the relative strength indicator (RSI). The cancellation of the growth option will be the fall of the British Pound against the US Dollar and a breakout of the 1.2725 area. This will indicate a continuation of the decline on the Forex pair with a potential target below the level of 1.2535.
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