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

Daily Price Outlook

- Resistance Levels: $1.27496, $1.27833; pivot at $1.27106 critical for further gains.

- Support Levels: $1.26169, $1.25817; failure below $1.26645 risks deeper correction.

- Indicators: RSI at 53 indicates mild bullish momentum; 50 EMA at $1.26799 underpins the uptrend.

GBP/USD is trading at $1.26866, up 0.11%, maintaining a mildly bullish tone as it hovers just above its 50-day EMA at $1.26799. The pair is consolidating below its pivot point of $1.27106, with immediate resistance at $1.27496.

Further resistance levels are noted at $1.27833, suggesting potential upside targets if the pair sustains momentum. On the downside, support is seen at $1.26169, followed by $1.25817 and $1.25386.

The RSI stands at 53, reflecting modest bullish momentum but not yet signaling overbought conditions. A decisive move above the pivot point could validate the bullish bias, targeting $1.27496 and beyond.

However, a break below $1.26645 may expose the pair to further declines, targeting the $1.26169 support zone.

Entry opportunities above $1.26645 align with the current trend, with profit targets near $1.27098 and a prudent stop-loss at $1.26323 to manage downside risks.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.26645

Take Profit – 1.27098

Stop Loss – 1.26323

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$453/ -$322

Profit & Loss Per Mini Lot = +$45/ -$32