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

Daily Price Outlook

- Resistance Levels: $1.27486, $1.28086, $1.28575.

- Support Levels: $1.26175, $1.25669, $1.25072.

- Momentum: RSI at 50 shows a neutral trend, with the 50-day EMA at $1.26473 providing nearby support.

The GBP/USD pair is trading at $1.2692, showing cautious consolidation near the pivot point at $1.26758. The pair reflects indecision, with price movement closely aligned to key technical levels.

Immediate resistance stands at $1.27486, followed by $1.28086 and $1.28575. A breakout above $1.27486 could attract further bullish momentum, supported by the 50-day EMA at $1.26473, which reinforces underlying support.

On the downside, immediate support is identified at $1.26175, with further critical levels at $1.25669 and $1.25072. The Relative Strength Index (RSI) is neutral at 50, indicating a balance between bullish and bearish forces. A sustained move below $1.26758 could drive prices toward $1.26175 and signal a broader bearish sentiment.

While the broader trend remains uncertain, the pair's proximity to its pivot point suggests a critical juncture. Bulls must reclaim $1.27486 for a potential rally, while failure to hold above $1.26758 may lead to downside risks.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.26751

Take Profit – 1.27479

Stop Loss – 1.26377

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$728/ -$374

Profit & Loss Per Mini Lot = +$72/ -$37