The currency pair Pound/Dollar GBP/USD is finishing the trading week within the development of a minor bearish correction 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 fall and a test of the resistance area near the level of 1.2375. Next, an upward rebound and continued growth of the Pound Dollar quotes to the area above the level of 1.3195.
GBP/USD Weekly Forecast March 3 — 7, 2025
An additional signal in favor of the rise 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 reversal pattern “Head and Shoulders”. The cancellation of the option of rising GBP/USD in the current trading week of March 3 — 7, 2025 will be a drop in quotes and a breakout of the area of 1.2205. This will indicate a breakout of the support area and a continuation of the fall to the area below 1.1965. The growth of the GBP/USD currency pair will be confirmed by a breakout of the resistance area and closing the price above 1.2755, which will indicate a breakout of the upper border of the reversal pattern and the beginning of the implementation of the pattern with targets at the top.
GBP/USD Weekly Forecast March 3 — 7, 2025 suggests an attempt to develop a bearish correction and test the support level near the 1.2375 area. Where should we expect continued growth of the currency pair with a target above the 1.3195 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 1.2205 level. In this case, we should expect the pair to continue to decline with a potential target below 1.1965.
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