The currency pair Pound/Dollar GBP/USD is finishing the trading week within the framework of the growth development and the bearish channel near the level of 1.2647. 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 bullish correction and a test of the resistance area near the level of 1.2765. Next, a downward rebound and a continuation of the fall in the Pound Dollar quotes to the area below the level of 1.2055.
GBP/USD Weekly Forecast February 24 — 28, 2025
An additional signal in favor of the decline 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 February 24 — 28, 2025 will be a strong increase in quotes and a breakout of the 1.2995 area. This will indicate a breakout of the resistance area and continued growth to the area above 1.3275. Confirmation of the fall of the GBP/USD currency pair will be a breakout of the support area and closing of the price below 1.2445, which will indicate a breakout of the lower border of the bullish correction channel.
GBP/USD Weekly Forecast February 24 — 28, 2025 suggests an attempt to develop a bullish correction and test the resistance level near the 1.2765 area. From where we should expect a continuation of the fall of the currency pair with a target below the 1.2055 area. An additional signal in favor of the decline will be a test of the trend line on the relative strength indicator. Cancellation of the fall option for the Pound Dollar pair will be strong growth and a breakout of the 1.2995 level. In this case, we should expect a continuation of the rise of the pair with a potential target above the 1.3275 level.
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