The currency pair Pound/Dollar GBP/USD ends the trading week within the framework of the development of growth and a bullish channel near the level of 1.3063. The moving averages indicate the presence of a bullish trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from sellers and a potential continuation of the growth of the British Pound against the US Dollar from the current levels. At this point, we should expect an attempt to develop growth and a test of the resistance area near the level of 1.3145. Then, a rebound downwards and a continuation of the fall of the Pound Dollar quotes to the area below the level of 1.2525.
GBP/USD Weekly Forecast April 7 — 11, 2025
An additional signal in favor of the fall of the British Pound will be a test of the resistance line on the relative strength indicator. The second signal will be a rebound from the upper border of the bearish channel. The cancellation of the option of a decline in the GBP/USD pair in the current trading week of April 7 — 11, 2025 will be a strong growth in quotes and a breakout of the 1.3345 area. This will indicate a breakout of the resistance area and continued growth to the area above 1.3705. A breakout of the support area and price closing below 1.2705 will confirm the fall of the GBP/USD currency pair, which will indicate a breakout of the lower border of the bullish channel.
GBP/USD Weekly Forecast April 7 — 11, 2025 suggests an attempt to develop a bullish correction and test the resistance level near the 1.3145 area. From where we should expect a continuation of the fall of the currency pair with a target below the 1.2525 area. An additional signal in favor of a decline will be a test of the trend line on the relative strength indicator. The cancellation of the fall option for the Pound Dollar pair will be strong growth and a breakout of the 1.3345 level. In this case, we should expect a continuation of the rise of the pair with a potential target above the 1.3705 level.
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