Currency pair Pound Dollar GBP/USD continues its movement within the correction development and the formation of a bearish “Wolves Wave” pattern. At the moment of this forecast’s publication, the Pound to US Dollar course on Forex is at 1.3367. Moving averages indicate the presence of a short-term bull trend. Prices broke through the area between signal lines upwards, indicating pressure from currency pair buyers and potential price continuation growth. Currently, an attempt for the rise in the British Pound’s value against the American Dollar should be expected, testing the resistance area near 1.3395 level, followed by a bounce of quotations to lower this area again and continue the depreciation of the GBP/USD currency pair. The target reduction range in the Forex forecast is at the level of 1.3145.
GBPUSD Forecast and Analysis for May 21, 2025
Additional indication of the currency pair’s depreciation will be testing the resistance line on the Relative Strength Index (RSI) indicator. A second signal for depreciation is a bounce off the upper boundary of the bearish model “Wolff Wave”. Cancellation of the option for depreciation of the currency pair Pound Dollar will be a strong rise and breakthrough of the resistance area with price stabilization above 1.3505. This will indicate a break of the resistance level and continuation of growth for the Pound Dollar pair to an area at 1.3745. To expect confirmation of depreciation, wait for penetration into the support zone and closing below the level of 1.3305.
GBPUSD Forecast and Analysis for May 21, 2025 anticipates an attempt at developing growth and testing the resistance area near 1.3395. Then, continuation of a decline with a target near 1.3145. An additional signal in favor of British Pound depreciation will be testing the resistance line on the Relative Strength Index (RSI) indicator. Cancellation of the downside scenario will be strong growth of the British Pound against the US Dollar and breaking through the area of 1.3505. This will indicate continuation of growth on the Forex pair with a potential target above the level of 1.3745.
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