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

Daily Price Outlook

- Resistance Levels: $1.26738, $1.27143.

- Support Levels: $1.25673, $1.25394, $1.25019.

- Momentum Indicators: RSI at 59 signals a bullish outlook with further upside potential.

GBP/USD is trading at $1.25917, up 0.52%, reflecting a positive tone amid risk-on sentiment. The pair is holding above the pivot point at $1.26373, signaling potential for continued bullish momentum. Immediate resistance is seen at $1.26738, with further targets at $1.27143. However, failure to break higher could lead to consolidation or a pullback toward the pivot.

On the downside, immediate support is located at $1.25673, with key levels at $1.25394 and $1.25019 offering additional safety nets. The 50 EMA at $1.25830 reinforces the bullish structure, providing dynamic support and signaling strong upward momentum.

The RSI at 59 indicates bullish sentiment, suggesting room for further upside. Traders are eyeing an entry below $1.26040 for potential short positions, targeting $1.25552, with a stop loss at $1.26272 to manage risk.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.26040

Take Profit – 1.25552

Stop Loss – 1.26272

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$488/ -$232

Profit & Loss Per Mini Lot = +$48/ -$23