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

Daily Price Outlook

- Resistance Levels: Immediate resistance at $1.27565, with higher barriers at $1.27926 and $1.28300 as potential targets.

- Support Levels: Immediate support at $1.26714, followed by $1.26272 and $1.25630 for downside risk.

- Technical Indicators: RSI at 61 supports bullish momentum; 50-day EMA at $1.26601 offers key support for trend validation.

GBP/USD is trading at $1.27004, up 0.18%, showing modest bullish momentum as it hovers near the pivot point at $1.27205. Immediate resistance lies at $1.27565, followed by $1.27926, marking key levels for potential upward continuation.

The 50-day EMA at $1.26601 acts as a critical support zone, closely aligned with the immediate support level at $1.26714. Further downside support levels to watch are $1.26272 and $1.25630.

The Relative Strength Index (RSI) stands at 61, suggesting that bullish momentum is gaining traction but remains below overbought conditions. The pair is trading above the 50-day EMA, reinforcing the short-term bullish bias. However, failure to sustain above $1.27205 could push prices back toward support zones, risking a shift in sentiment.

Traders are advised to consider buying above $1.26814, targeting $1.27281 with a stop loss at $1.26592. A sustained break above $1.27565 could confirm further gains, while a move below $1.26714 would test the pair’s resilience.

GBP/USD maintains a bullish bias above $1.27205, targeting $1.27565. A break above resistance could signal further gains, while failure to hold above $1.26714 may shift the trend to bearish.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.26814

Take Profit – 1.27281

Stop Loss – 1.26592

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$467/ -$222

Profit & Loss Per Mini Lot = +$46/ -$22