The currency pair Pound/Dollar GBP/USD is finishing the trading week within the framework of growth development and has left the bearish channel near. The moving averages indicate the presence of a downward trend. Prices are again testing the area between the signal lines, which indicates pressure from sellers and a potential continuation of the decline in the British Pound against the US Dollar from the current levels. At this point, we should expect an attempt to develop a fall and a test of the support area near the level of 1.2465. Next, an upward rebound and continued growth of Pound Dollar quotes to the area above the level of 1.3115.
GBP/USD Weekly Forecast February 17 — 21, 2025
An additional signal in favor of the growth of the British Pound will be a test of the support line on the relative strength indicator. The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the growth option for the GBP/USD pair in the current trading week of February 17 — 21, 2025 will be a drop in quotes and a breakout of the 1.2245 area. This will indicate a breakout of the support area and a continuation of the fall to the area below 1.1865. The growth of the GBP/USD currency pair will be confirmed by a breakout of the resistance area and a price close above 1.2705.
GBP/USD Weekly Forecast February 17 — 21, 2025 suggests an attempt to develop a bearish correction and test the support level near the 1.2465 area. From where we should expect continued growth of the currency pair with a target below the 1.3115 area. An additional signal in favor of the rise will be a test of the trend line on the relative strength indicator. The cancellation of the growth option for the Pound Dollar pair will be a fall and a breakout of the 1.2245 level. In this case, we should expect a continuation of the decline of the pair with a potential target below the 1.1865 level.
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