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

Daily Price Outlook

- GBP/USD faces immediate resistance at 1.25653, with further upside potential at 1.26586.

- Immediate support lies at 1.24764, with further downside risk toward 1.24237.

- RSI at 45 indicates a neutral-to-bearish market sentiment with no clear trend reversal.

The GBP/USD is currently trading at 1.25296, showing a modest 0.01% decline. The pair is hovering just below the critical pivot point of 1.25653, with immediate resistance at 1.26586 and further resistance at 1.27292 and 1.27819.

These resistance levels will need to be breached for any potential bullish movement, but the overall sentiment remains bearish.

Immediate support is found at 1.24764, followed by 1.24237 and 1.23771. The 50-day Exponential Moving Average (EMA) sits at 1.25511, signaling a neutral-to-bearish trend in the short term.

The Relative Strength Index (RSI) at 45 reflects a neutral to slightly bearish momentum, with no clear signs of a reversal at this point.

The market is looking for direction, and a breach below 1.24764 could trigger further declines toward the next support levels.

On the flip side, if GBP/USD manages to break above the immediate resistance at 1.25653, it could pave the way for a rally toward 1.26586, though this would require a significant shift in sentiment.

Overall, the market remains cautious, with volatility driven by global economic and geopolitical factors.

GBP/USD - Trade Ideas

Entry Price – Sell Limit 1.25650

Take Profit – 1.24749

Stop Loss – 1.26219

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$901/ -$569

Profit & Loss Per Mini Lot = +$90/ -$56