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

Daily Price Outlook

- GBP/USD trades at $1.27014, below the $1.27860 pivot, signaling short-term bearish bias.

- Resistance stands at $1.28351, with key support at $1.26666.

- Sell limit at $1.27217 targets $1.26588, with a stop at $1.27678.

The GBP/USD pair is trading at $1.27014, down 0.05%, reflecting a cautious sentiment as the pair remains near a key support level.

The pivot point at $1.27860 acts as a critical resistance, with the pair trading just below the 50 EMA at $1.27176, reinforcing a short-term bearish bias.

Immediate resistance lies at $1.28351, followed by $1.28742, levels that need to be breached to signal a shift in sentiment.

On the downside, the pair finds immediate support at $1.26666, with further levels at $1.26070 and $1.25636 providing key targets for bearish momentum. The RSI at 51 signals neutrality, suggesting limited immediate momentum but leaving room for directional movement.

Traders are positioning for a Sell Limit at $1.27217, targeting $1.26588, with a stop loss at $1.27678 to manage upside risks.

For now, GBP/USD remains rangebound, with a bearish outlook prevailing unless the price reclaims the pivot point and surpasses the 50 EMA.

A failure to hold support at $1.26666 could open the door for further declines toward $1.26070.

The pair’s direction hinges on a break above resistance or below key support, with the overall sentiment skewed slightly bearish.

GBP/USD - Trade Ideas

Entry Price – Sell Limit 1.27217

Take Profit – 1.26588

Stop Loss – 1.27678

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$629/ -$461

Profit & Loss Per Mini Lot = +$62/ -$46