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03.03.202504:33 Forex Analysis & Reviews: GBP/USD Forecast for March 3, 2025

On Friday, the British pound consolidated below the 1.2616 level. The most likely scenario now is a decline toward the support target at 1.2500.

Exchange Rates 03.03.2025 analysis

This downward movement is expected to be supported by UK economic data, as long as the figures do not significantly deviate from forecasts. The Manufacturing PMI for February is anticipated to be 46.4, a decrease from January's 48.3, while mortgage lending volume for January is projected to drop from 66.53K to 66.00K applications.

Exchange Rates 03.03.2025 analysis

On the four-hour chart, the price continues to consolidate below the 1.2616 level. Given the current conditions, it is unlikely to move higher, as it would immediately encounter resistance at the MACD line (1.2628). This resistance could only be overcome if there is extremely weak data from the U.S. However, the forecast for the U.S. Manufacturing PMI for February suggests an increase from 51.2 to 51.6.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2025
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