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

Daily Price Outlook

- Immediate Resistance: $1.26725; Next Levels: $1.27194 and $1.27860.

- Support Levels: $1.25679; Further Supports: $1.25239 and $1.24866.

- Indicators: RSI at 40 signals mild bearish pressure; 50 EMA at $1.27096 remains a key hurdle.

The GBP/USD pair is trading at $1.26392, up 0.24%, as buyers extend gains above the pivot point of $1.26160. The immediate resistance sits at $1.26725, where a break higher could open the door to further upside, targeting resistance levels at $1.27194 and $1.27860.

Market sentiment remains cautiously optimistic, with the pound benefiting from renewed risk appetite and technical buying momentum.

On the downside, immediate support is seen at $1.25679, followed by further levels at $1.25239 and $1.24866, which could attract dip-buyers if the pair retraces.

Despite the current uptick, the 50-day EMA at $1.27096 looms overhead as a key hurdle for bullish continuation, and any failure to breach this resistance could trigger a pullback.

The Relative Strength Index (RSI) stands at 40, signaling mild bearish pressure but also leaving room for a potential recovery.

The technical setup suggests cautious buying above the pivot point at $1.26160, with a target of $1.26742 and a stop loss at $1.25862 to manage downside risks.

In conclusion, the GBP/USD remains in a consolidative phase, but the short-term bias tilts bullish above $1.26160.

A sustained push above $1.26725 would reinforce upward momentum, while failure to hold the pivot could expose the pair to further selling pressure.

GBP/USD - Trade Ideas

Entry Price – Buy Limit 1.26158

Take Profit – 1.26742

Stop Loss – 1.25862

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$584/ -$296

Profit & Loss Per Mini Lot = +$58/ -$29