The currency pair Pound/Dollar GBP/USD is finishing the trading week within the framework of the development of growth and a bullish channel near the level of 1.2940. The moving averages indicate the presence of 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 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 1.2985. Next, a rebound downwards and a continuation of the fall in Pound Dollar quotes to the area below the level of 1.2495.
GBP/USD Weekly Forecast March 31 — April 4, 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 March 31 — April 4, 2025 will be a strong increase in quotes and a breakout of the area of 1.3185. This will indicate a breakout of the resistance area and continued growth to the area above 1.3445. Confirmation of the fall of the GBP/USD currency pair will be a breakout of the support area and closing of the price below 1.2735, which will indicate a breakout of the lower border of the bullish channel.
GBP/USD Weekly Forecast March 31 — April 4, 2025 suggests an attempt to develop a bullish correction and test the resistance level near the 1.2985 area. From where we should expect a continuation of the fall of the currency pair with a target below the 1.2495 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 1.3185. In this case, we should expect a continuation of the rise of the pair with a potential target above the level of 1.3445.
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