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

Daily Price Outlook

- GBP/USD pivot point at $1.30087 suggests range-bound conditions.

- Immediate resistance at $1.30716; a break above may lead to $1.31246.

- RSI at 44 and prices below the 50-day EMA indicate limited bullish momentum.

Technically, GBP/USD is trading just below its pivot point of $1.30087, indicating a potential for range-bound price action in the short term. Immediate resistance is noted at $1.30716, with higher resistance levels at $1.31246 and $1.31760. A move above $1.30716 could push the pair toward these higher resistance levels, but momentum appears to be fading.

On the downside, immediate support is found at $1.29495, with subsequent support at $1.28987 and a deeper level at $1.28242. A breach below $1.29495 would likely signal increased selling pressure, potentially leading to a more significant correction toward the lower support zones.

The Relative Strength Index (RSI) is at 44, suggesting a lack of strong directional bias as the pair remains in neutral territory. Meanwhile, the 50-day Exponential Moving Average (EMA) at $1.30268 indicates that GBP/USD is struggling to break back above critical resistance, which reinforces a slightly bearish outlook for the near term.

For traders, a short position may be considered if GBP/USD drops below $1.30252, with a take-profit target at $1.28981 and a stop-loss at $1.30761 to manage potential upside risks.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.30252

Take Profit – 1.28981

Stop Loss – 1.30761

Risk to Reward – 1: 2.5

Profit & Loss Per Standard Lot = +$1271/ -$509

Profit & Loss Per Mini Lot = +$127/ -$50