The GBP/USD currency pair continues to move within the framework of the development of the fall and the formation of the “Wedge” reversal pattern. At the time of publication of the forecast, the Pound to US Dollar exchange rate on Forex is 1.2956. Moving averages indicate the presence of a short-term bullish trend. Prices broke 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 an increase in the British Pound against the US Dollar and a test of the resistance area near the 1.3015 level. Where should we expect a downward rebound in the pair quotes and a continued 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 1.2775.
GBP/USD Forecast and Analysis for March 21, 2025
An additional signal in favor of the currency pair’s decline will be a test of the resistance line on the relative strength indicator (RSI). The second signal in favor of the rise will be a rebound from the upper border of the “Wedge” reversal pattern. The cancellation of the option with the fall of the GBP/USD currency pair will be a strong growth and a breakout of the resistance area with the price fixing above the level of 1.3095. This will indicate a breakout of the resistance level and continued growth of the GBP/USD pair to the area at 1.3345. Confirmation of the pair’s decline should be expected with a breakout of the support area and the price closing below the level of 1.2905, which will indicate a breakout of the lower border of the “Wedge” pattern and the beginning of the pattern implementation with targets below.
GBP/USD Forecast and Analysis for March 21, 2025 suggests an attempt to develop a fall and test the resistance area near the level of 1.3015. Then, a continuation of the fall with a target near the level of 1.2775. An additional signal in favor of the decline of the British Pound will be a test of the resistance line on the relative strength indicator (RSI). The cancellation of the fall option will be a strong growth of the British Pound against the US Dollar and a breakout of the 1.3095 area. This will indicate continued growth on the Forex pair with a potential target above the level of 1.3345.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
