The currency pair Pound/Dollar GBP/USD is finishing the trading week within the framework of the growth development and the bullish channel near the level of 1.3307. The moving averages indicate the presence of a bullish trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from sellers and potential continuation of the growth of the British Pound against the US Dollar from the current levels. At this point, we should expect an attempt to develop growth and test the resistance area near the level of 1.3505. Then, a rebound downwards and a continuation of the fall of the Pound Dollar quotes to the area below the level of 1.2925.
GBP/USD Weekly Forecast May 5 — 9, 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 bullish channel. The cancellation of the option of a fall in the GBP/USD pair in the current trading week of May 5 — 9, 2025 will be a strong growth in quotes and a breakout of the area of 1.3765. This will indicate a breakout of the resistance area and continued growth to the area above 1.4075. A breakout of the resistance area and price closing above 1.3075 will confirm the decline in the GBP/USD currency pair, which will indicate a breakout of the lower boundary of the bullish channel.
GBP/USD Weekly Forecast May 5 — 9, 2025 suggests an attempt to develop a bullish correction and test the resistance level near the 1.3505 area. From where we should expect a continuation of the fall of the currency pair with a target below the 1.2925 area. An additional signal in favor of the decline will be a test of the trend line on the relative strength indicator. The cancellation of the fall scenario for the Pound Dollar pair will be a strong growth and a breakout of the 1.3765 level. In this case, we should expect continued growth of the pair with a potential target above the 1.4075 level.
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