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

Daily Price Outlook

- Immediate Resistance: $1.26620; Next: $1.27292, $1.27819.

- Immediate Support: $1.25375; Next: $1.24764, $1.24237.

- RSI at 50 and 50 EMA at $1.26110 suggest a neutral to bearish outlook.

GBP/USD is trading at $1.25689, up 0.04%, as the pair consolidates below the $1.26021 pivot point, reflecting a cautious tone.

The pair faces immediate resistance at $1.26620, with higher barriers at $1.27292 and $1.27819, signaling a challenging path for bulls amid a neutral market sentiment.

The 50 EMA at $1.26110 hovers above the current price, adding to downward pressure, while the RSI at 50 highlights indecision in momentum.

On the downside, immediate support lies at $1.25375, with additional levels at $1.24764 and $1.24237, reinforcing a bearish bias if these levels are breached.

The broader trend remains under pressure as the pair struggles to maintain gains above the pivot. The technical setup favors sellers, with the current price action suggesting a potential downside toward the $1.25029 take-profit target, especially if the pair fails to overcome the $1.26021 pivot point.

However, a decisive break above $1.26620 could shift momentum, opening the door to further gains.

Sell-limit orders below $1.25819 are preferred, with a target of $1.25029 and a stop-loss at $1.26415. Key resistance above $1.26620 needs monitoring for a potential reversal.

GBP/USD - Trade Ideas

Entry Price – Sell Limit 1.25819

Take Profit – 1.25029

Stop Loss – 1.26415

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$790/ -$596

Profit & Loss Per Mini Lot = +$79/ -$59