Currency pair Pound Dollar GBP/USD continues its movement within the context of a decline development and a bull channel. At the time of the forecast publication, the rate of the Pound to the US Dollar on Forex is 1.3483. Moving averages indicate the presence of a short-term bullish trend. Prices pierced the area between signal lines upwards, which indicates pressure from the buyers of the currency pair and potential continuation of the instrument’s growth. Currently, one should expect an attempt at developing an upward movement of the British Pound rate against the American Dollar, and testing the resistance area near 1.3505. From there, it is expected to anticipate a bounce in the pair’s quotations downwards, and to continue the decline of the GBP/USD currency pair. The target decrease of the pair, within the Forex forecast, is the area at the level of 1.3315.
GBP/USD Forecast and Analysis for May 29, 2025
Additional indication of the currency pair’s depreciation will be when testing the resistance line on the Relative Strength Index (RSI). A second indication of depreciation will come from a bounce off the upper boundary of the bull channel. Cancellation of the depreciation scenario for the currency pair GBP/USD would occur with strong growth and breaking through the resistance area, with prices being firmly established above 1.3565. This will indicate a break-through of the resistance level and continuation of the GBP/USD pair’s rise to an area at around 1.3775. Expect confirmation of depreciation when breaking through the support region and closing price under 1.3435.
GBP/USD Forecast and Analysis for May 29, 2025 predicts an attempt to develop a bullish correction and testing the area of resistance near the level of 1.3505. Then, continuation of price drops with a target close to the level of 1.3315. An additional signal for the decline in the British Pound would be a test of the resistance line on the Relative Strength Index (RSI) indicator. Cancellation of the downside option will be a strong rise in the British Pound against the US Dollar and breaking through the area of 1.3565. This will indicate continuation of the rise on the Forex pair with potential target above the level of 1.3775.
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