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

Daily Price Outlook

The GBP/USD pair adeptly met our initial forecasted target at 1.2625, encountering robust support at this juncture. This was accompanied by a transient bullish inclination. Intriguingly, the stochastic indicator has unmistakably lost its upward drive, while the EMA50 consistently exerts downward pressure on the currency's valuation.

Given these dynamics, our prognosis leans towards a bearish trajectory for the ensuing phase. For this forecast to materialize, the pair must decisively penetrate the aforementioned 1.2625 mark, setting its sights on 1.2505 as the subsequent bearish milestone. It's crucial to underscore that any surge beyond 1.2725, and subsequently 1.2825, would negate this bearish outlook, potentially catalyzing an upward price movement.

GBP/USD - Trade Idea

Entry Price – Buy Stop 1.27289

Take Profit – 1.27931

Stop Loss – 1.26644

Risk to Reward – 1: 1

Profit & Loss Per Standard Lot = +$642/ -$645

Profit & Loss Per Micro Lot = +$64/ -$64