Currency pair Pound Dollar GBP/USD continues its movement within the context of a decline development and a descending channel. At the time of publishing the forecast, the Pound to US Dollar course on Forex is at 1.3291. Moving averages indicate the presence of a short-term bearish trend. Prices have breached the area between signal lines upwards, which indicates pressure from buyers of the currency pair and potential continuation of the growth instrument. Currently, it’s advisable to anticipate an attempt for the development of a bullish correction in the course of the British Pound against the US Dollar, testing the resistance zone close to 1.3365. From there, one can expect a rebound in the price quotations and continuation of the decline in the currency pair British Pound against US Dollar. The target of the reduction for the pair, within the Forex forecast, is the area at level 1.3145.
GBPUSD Forecast and Analysis for May 16, 2025
Additional signals in favor of the currency pair’s depreciation will be testing the resistance line on the Relative Strength Index (RSI) indicator. The second signal for depreciation will be a bounce off the upper boundary of the bearish “Wulff Wave” model. An alternative scenario where the currency pair GBP/USD falls is invalidated by strong growth and breaking the resistance area with closing price above 1.3465, indicating a break of the resistance level and continuation of the rise of the GBP/USD pair to an area at the level of 1.3705. Expect confirmation of depreciation when breaking the support area and closing price below 1.3225, which indicates breaking the lower boundary of the bullish correction channel.
GBPUSD Forecast and Analysis for May 16, 2025 anticipates a growth attempt and test of the resistance area near level 1.3365. Then, continuation of the decline with a target near level 1.3145. An additional signal in favor of the British Pound depreciation would be a test of the resistance line on the Relative Strength Index (RSI) indicator. Cancellation of the downside scenario will be a strong rise of the British Pound against the US Dollar and breaking through the area 1.3465. This will indicate continuation of growth on the Forex pair with a potential target above level 1.3705.
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