Daily Price Outlook

    On October 25, GBP/USD displayed a nominal upward adjustment, with a 0.11% increase, pegging its current price at 1.21743. Delving into its 4-hour chart, the pair's trajectory paints a nuanced story. The pivot point for GBP/USD is marked at 1.2159, a figure that holds paramount importance for traders.

    In the realm of resistance, GBP/USD confronts its first hurdle at 1.2225. Further headwinds might arise at 1.2288, and should bullish momentum persist, 1.2357 could be the next target. Conversely, if the pair encounters downward pressure, immediate support has established itself at 1.2096, followed by subsequent safety nets at 1.2030 and 1.1965.

    The Relative Strength Index (RSI) reads 48, signaling a neutral-to-bearish sentiment, hovering just below the midline. The MACD, interestingly, stands at a flat 0.00, with its signal line marginally higher at 0.0003400, suggesting a lack of strong momentum in either direction. Moreover, the GBP/USD rate slightly trails its 50-Day Exponential Moving Average (EMA) at 1.2185, hinting at a delicate bearish undertone in the short term.

    Conclusion: The GBP/USD's broader sentiment leans bearish, especially if it descends below the 1.2170 threshold. As traders and investors dissect the intricate balance between resistance and support levels, the immediate resistance of 1.2225 becomes a focal point in the short-term forecast.

    GBP/USD Price Chart – Source: Tradingview
    GBP/USD Price Chart – Source: Tradingview

    GBP/USD - Trade Idea

    Entry Price – Sell Limit 1.21840

    Take Profit – 1.21174

    Stop Loss – 1.22197

    Risk to Reward – 1: 1.8

    Profit & Loss Per Standard Lot = +$666/ -$357

    Profit & Loss Per Micro Lot = +$66/ -$35



    24/7 live support, lightning fast withdrawals, guaranteed safe and reliable trading platforms with a true ECN broker.