Friday, March 7, 2025

GBP/USD Forecast: Will the Pound Soar or Sink?

GBP/USD Forecast: Will the Pound Soar or Sink?


GBP/USD Forecast: Will the Pound Soar or Sink?
GBP/USD Forecast: Will the Pound Soar or Sink?
GBP/USD Forecast: Will the Pound Soar or Sink?

GBP/USD Forecast: Will the Pound Soar or Sink?  

K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant

Trend Analysis  
- The price has shifted from a downtrend to a strong uptrend.  
- The recent breakout above key resistance confirms bullish momentum.  
- Higher highs and higher lows indicate a continuation of the trend.  

Moving Averages Insights  
- The price has moved above the 200-day moving average, signaling a long-term trend reversal.  
- The price is currently extended above short-term moving averages, indicating possible overbought conditions.  

Upcoming Events  
- Interest rate decisions from the Bank of England (BoE) and Federal Reserve (Fed) could impact GBP/USD.  
- Economic data releases such as GDP, inflation, and employment figures may influence market direction.  

Observations  
- RSI is approaching overbought levels (68), suggesting a potential short-term pullback.  
- Momentum is strong, but a consolidation phase may occur before further upside.  
- Volume has been increasing, confirming buying pressure.  

Final Takeaway  
- The bullish trend remains intact as long as the price stays above key support levels.  
- A breakout above resistance could fuel further upside.  
- A breakdown below moving averages may signal a trend reversal.  

Breakout Strategy (Bullish)  
- Entry: Above recent highs (1.2960-1.3000) | Stop-loss: Below key support (1.2850)  
- Targets: 1.3100 / 1.3200 / 1.3300  

Breakdown Strategy (Bearish)  
- Entry: Below support (1.2750-1.2800) | Stop-loss: Above recent highs (1.2900)  
- Targets: 1.2600 / 1.2500 / 1.2400

Disclaimer: This report is for informational purposes only and should not be considered as financial advice. Please consult with a professional before making investment decisions.

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