Daily Price Outlook

- Pivot Point at $1.25668 is crucial for determining bullish or bearish bias.

- Immediate Resistance Levels: $1.26348, $1.26981, $1.27643.

- Immediate Support Levels: $1.25099, $1.24470, $1.23890.

GBP/USD is currently trading at $1.25949, showing a modest increase of 0.02% for the day. The 4-hour chart reveals key levels that could determine the next directional move. The pivot point, marked in green, is at $1.25668, which serves as a critical reference for traders.

Immediate resistance is situated at $1.26348, followed by $1.26981 and $1.27643. Breaking above these resistance levels would signal a stronger bullish trend, potentially leading to further gains. Conversely, immediate support is found at $1.25099, with subsequent support levels at $1.24470 and $1.23890. If the price falls below these support levels, it could indicate a bearish reversal.

Technical indicators provide additional insights into the market conditions. The Relative Strength Index (RSI) is at 66, suggesting that the market is approaching overbought territory but still has room for further upward movement. The 50-day Exponential Moving Average (EMA) is at $1.25403, which aligns closely with the current price, reinforcing the medium-term bullish trend.

The overall technical outlook for GBP/USD remains bullish above the pivot point of $1.25668. A break above this level could encourage more buying interest, targeting the immediate resistance levels. However, if the pair fails to maintain above the pivot point, it may test the immediate support levels, leading to potential downside risks.

In conclusion, the recommended entry price for a buy is above $1.25678, with a take profit target at $1.26346 and a stop loss at $1.25344.

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

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.25678

Take Profit – 1.26346

Stop Loss – 1.25344

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$668/ -$334

Profit & Loss Per Mini Lot = +$66/ -$33



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