The GBP/USD currency pair continues its movement within a correction and bullish channel. At the time of the forecast publication, the Pound to US Dollar exchange rate on Forex is 1.2595. Moving averages indicate a short-term bullish trend. Prices have broken above the signal lines, indicating buying pressure on the pair and the potential for continued growth. Currently, a bearish correction attempt and a test of the support area near 1.2565 are expected. After that, a price rebound upward and continued growth in the GBP/USD currency pair are anticipated, with a target near 1.2795.
GBP/USD Forecast and Analysis for March 4, 2025
An additional signal in favor of the bullish scenario will be a test of the support line on the RSI indicator. A second signal supporting growth will be a rebound from the lower boundary of the bullish channel. The bullish scenario will be canceled if the price falls and breaks the support area, consolidating below 1.2505. This will indicate a continuation of the decline towards 1.2285. Confirmation of an upward move will come with a breakout of the resistance area and price closing above 1.2655.
GBP/USD Forecast and Analysis for March 4, 2025 suggests a decline attempt and a test of the support area near 1.2565, followed by continued growth toward 1.2795. An additional bullish signal will be a test of the support line on the RSI indicator. The bullish scenario will be canceled if the price drops below 1.2505, indicating further downside movement toward 1.2285.
