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

Daily Price Outlook

The GBPUSD pair has successfully surpassed our initial target at 1.2935, with the daily candlestick closing above this level. Today's trading session starts with additional positive momentum, indicating a further move away from this level and reinforcing our expectations for a continued bullish trend in the intraday and short-term perspective. The next target for the pair is set at 1.3010.

As a result, our bullish outlook remains intact, supported by the EMA50 providing underlying support. It is worth noting that a break below 1.2935 would invalidate the bullish bias and potentially lead to a reversal in price direction.

For today's trading, the expected range lies between the support level at 1.2900 and the resistance level at 1.3050.

Overall, the anticipated trend for today is deemed bullish, considering the price action and the support from technical indicators. Traders and investors should closely monitor the market conditions and assess price movements in light of these factors while making informed trading decisions.

GBP/USD - Trade ideas

Entry Price – Buy Above 1.29064

Take Profit – 1.30508

Stop Loss – 1.27914

Risk to Reward – 1: 1.26

Profit & Loss Per Standard Lot = +$1444/ -$1150

Profit & Loss Per Micro Lot = +$144/ -$115