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

Daily Price Outlook

- GBP/USD remains bearish below the $1.31673 resistance level.

- A break below $1.30891 could lead to further downside to $1.30523.

- RSI at 45.15 suggests additional selling pressure is likely.

The British Pound is facing downside pressure against the U.S. Dollar as it struggles below the key resistance level of $1.31673, which is reinforced by the 50-day Exponential Moving Average (EMA). GBP/USD has formed a lower high at $1.31880, signaling potential weakness. The immediate support at $1.30891 is being closely watched, as a break below this level could trigger further downside towards $1.30523. The pair is currently in a consolidation phase, with the RSI at 45.15, which indicates there’s room for the price to slide lower before reaching oversold territory.

The descending trendline from previous highs continues to act as resistance near $1.31673, and any failure to break above this could attract sellers. A confirmed bearish break below $1.30891 might lead to a retest of the psychological level at $1.30111. Meanwhile, bulls should be cautious as any upside movement remains capped by resistance near the $1.31880 zone.

The pair remains bearish below the pivot point at $1.31517, with a possible downside target at $1.30891. A failure to hold above $1.31517 suggests potential weakness in the short term.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.31517

Take Profit – 1.30891

Stop Loss – 1.31878

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$626/ -$361

Profit & Loss Per Mini Lot = +$62/ -$36