The currency pair Pound/Dollar GBP/USD ends the trading week within the development of growth and a bullish channel near 1.2940. The moving averages indicate a downward trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from sellers and a potential continuation of the decline in the British Pound against the US Dollar from current levels. At this point, we should expect an attempt to develop growth and test the resistance area near 1.2995. Next, a rebound downwards and a continuation of the fall in Pound Dollar quotes to the area below 1.2515.
GBP/USD Weekly Forecast March 24 — 28, 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 lower border of the bullish channel. The cancellation of the option of a decline in the GBP/USD pair in the current trading week of March 24 — 28, 2025 will be a strong increase in quotes and a breakout of the 1.3195 area. This will indicate a breakout of the resistance area and continued growth to the area above 1.3465. Confirmation of the fall of the GBP/USD currency pair will be a breakout of the support area and closing of the price below 1.2745, which will indicate a breakout of the lower border of the bullish channel.
GBP/USD Weekly Forecast March 24 — 28, 2025 suggests an attempt to develop a bullish correction and test the resistance level near the 1.2995 area. From where we should expect a continuation of the fall of the currency pair with a target below the 1.2515 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 a strong growth and a breakout of the level of 1.3195. In this case, we should expect a continuation of the rise of the pair with a potential target above the level of 1.3465.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
