GBP/USD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

    * GBP/USD is hovering around 1.2600 with new attempts to break it, indicating a bullish trend with a target of 1.2650 and potentially 1.2810.

    * The 50-day EMA is supporting the bullish wave organized by bullish channels. Breaking 1.2520 will stop the expected rise and send the price into a bearish correction.

    * Today's trading range is between 1.2520 support and 1.2680 resistance.

Since yesterday, the GBP/USD pair has been lingering around the 1.2600 level, with new attempts to break it, bolstering the projected positive trend in the coming time, with the next objective at 1.2650. Surpassing this level will pave the path for additional gains toward the 1.2810 area.

The 50-day exponential moving average is supporting the bullish wave, which is organized by bullish channels. Breaking 1.2520, on the other hand, will halt the expected rise and send the price into a new bearish correction, with a potential target of 1.2400 areas before any new attempt to resume the main bullish trend.

Today's predicted trading range is between the 1.2520 support level and the 1.2680 resistance level.

GBP/USD - Trade Idea

Entry Price – Buy 1.26000

Stop Loss – 1.25400

Take Profit – 1.27000

Risk to Reward – 1 : 1.6

Profit & Loss Per Standard Lot = +$1000/ -$600

Profit & Loss Per Micro Lot = +$100/ -$60