Pound Dollar GBP/USD currency pair continues to move within the development of bullish momentum and descending channel. At the moment of the forecast publication, the Pound to US Dollar exchange rate on Forex is 1.3329. The moving averages indicate the presence of a short-term bearish trend. Prices broke through the area between the signal lines upwards, which indicates the pressure from the buyers of the currency pair and the potential continuation of the growth of the instrument. At the moment we should expect an attempt to develop the rise of the British Pound against the American Dollar and a test of the resistance area near the level of 1.3345. From where we should again expect a rebound of the pair quotes downward and the continuation of the British Pound currency pair decline against the U.S. Dollar. The downside target of the pair, within the Forex forecast, is the area at the level of 1.3165.
GBPUSD Forecast and Analysis for May 15, 2025
An additional signal in favor of the currency pair decline will be a test of the resistance line on the relative strength indicator (RSI), there have already been several downward pullbacks from this line. The second signal in favor of the fall will be a rebound from the upper boundary of the descending channel. A strong growth and breakdown of the resistance area with the price fixing above the level of 1.3425 will cancel the variant with the fall of the currency pair Pound Dollar. This will indicate the breakdown of the resistance level and the continuation of the growth of the pair Pound Dollar to the area at 1.3675. We should expect confirmation of the pair’s fall with the breakdown of the support area and the price closing under the level of 1.3225, which will indicate the breakdown of the lower boundary of the bullish correction channel.
GBPUSD Forecast and Analysis for May 15, 2025 suggests an attempt to develop growth and test the resistance area near the level of 1.3345. Then, the continuation of the fall with the target near the level of 1.3165. An additional signal in favor of the GBP decline will be a test of the resistance line on the relative strength indicator (RSI). A strong growth of the British Pound against the U.S. Dollar and a breakdown of the 1.3425 area will cancel the downside option. This will indicate the continuation of growth on Forex pair with a potential target above the level of 1.3675.
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