GBP/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- GBP/USD edges up, immediate resistance at 1.2623
- RSI at 44, with price flirting with the 50 EMA
- Market awaits clear directional bias above 1.2585
The British Pound finds modest fortitude against the US Dollar, with GBP/USD ticking up 0.14% to trade around the 1.26 mark. The currency pair's recent performance hints at an emerging cautious optimism among traders as they navigate the waters of global economic uncertainty.
A technical examination reveals a pivot point at 1.2537, serving as the fulcrum for the cable's short-term trajectory. Resistance is staged at 1.2623, followed by further barriers at 1.2680 and 1.2768. Should Sterling wane, it will encounter a series of supports at 1.2481, 1.2427, and critically at 1.2371, which could arrest any downward spirals.
The Relative Strength Index (RSI) lingers at 44, subtly underscoring the market's indecision, as it hovers below the bullish threshold of 50. Meanwhile, the 50-Day Exponential Moving Average (EMA) stands at 1.2619, suggesting the Pound's path may hinge upon its ability to sustain above this level.
Chart patterns have yet to disclose a definitive narrative, with the GBP/USD straddling a line of neutrality. The implication here is one of potential: a decisive stride above 1.2585 could ignite bullish fervor, whereas failure to maintain this level could see a retest of lower supports.
In sum, the Pound's current stance is one of cautious bullishness above 1.2585, with traders likely to eye resistance levels as benchmarks for the Sterling's stamina in the days ahead.
GBP/USD - Trade Ideas
Entry Price – Sell Below 1.26470
Take Profit – 1.25196
Stop Loss – 1.27319
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$1274/ -$849
Profit & Loss Per Mini Lot = +$127/ -$84
GBP/USD Price Analysis – Dec 04, 2023
Daily Price Outlook
Despite the weaker US dollar and the better-than-expected UK data, the GBP/USD currency pair struggled to halt its downward trend and remained well below the 1.2700 mark during the Asian session on Monday. However, the losses in the GBP/USD pair could be short-lived as speculation that the Federal Reserve (Fed) is done with its tightening cycle exerts pressure on the US Dollar and creates a tailwind for the GBP/USD pair.
Fed Chair Powell's Cautious Remarks Ease Pressure on GBP/USD Amid Rate-Hike Speculation
It's worth noting that the markets turned cautious after Federal Reserve Chair Jerome Powell made some prudent comments on Friday. Traders are adopting a cautious stance and remaining on the sidelines ahead of the significant employment report scheduled for Friday. This report could significantly influence perceptions of the future of US interest rates.
Powell noted that it's quite evident the US monetary policy is indeed slowing down the economy, just as anticipated. The interest rate is already high enough to further dampen economic activity. Although Powell mentioned their readiness to tighten things further if necessary, a majority of people in the market believe that the time for raising rates has passed. This sentiment is exerting pressure on the US dollar overall.
Therefore, Powell's cautious remarks, hinting at a possible conclusion to the rate-hike cycle, have alleviated pressure on the GBP/USD pair.
BoE Commitment and Positive Manufacturing PMI Signal Potential Strength
Moreover, Bank of England (BoE) Governor Andrew Bailey has recently affirmed the central bank's dedication to reaching a 2% inflation target. However, he maintains a cautious stance due to inadequate progress. On a positive note, the UK's S&P Global/CIPS Manufacturing PMI climbed to 47.2 in November, exceeding the anticipated 46.6.
Therefore, Governor Bailey's commitment to the 2% inflation target and the uptick in the UK's Manufacturing PMI could potentially bolster the GBP/USD pair. This is because it instills confidence in the British economy, providing support for the pound against the US dollar.
GBP/USD - Technical Analysis
In the ever-evolving forex market, the GBP/USD pair has exhibited a slight retreat, currently trading at 1.26, marking a decline of 0.27%. This movement signals a cautious phase for the pair amidst the broader market dynamics.
The technical landscape for GBP/USD is framed by its pivot point at $1.2683, a crucial marker for future price action. Immediate resistance levels are delineated at $1.2765, $1.2824, and $1.2909. On the downside, the pair finds its immediate support at $1.2621, with further cushions at $1.2536 and $1.2483. These levels are pivotal in determining the pair’s short-term trajectory and will be closely monitored by traders.
The Relative Strength Index (RSI) stands at 54, hovering above the midpoint, which suggests a mildly bullish sentiment. However, it’s important to note that the pair is not in the overbought territory, leaving room for potential upward movement.
Significantly, the GBP/USD is trading above its 50-day Exponential Moving Average (EMA) of $1.2600, reinforcing the current short-term bullish trend. This positioning above the 50 EMA is typically a bullish signal, but vigilance is advised as market conditions remain fluid.
In terms of chart patterns, the GBP/USD is showing a bullish outlook above the $1.2660 level. This pattern suggests that the pair might continue its upward momentum, provided it sustains above this critical threshold.
The overall trend for the GBP/USD pair appears to be bullish, especially when it maintains above the $1.2660 mark.
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GBP/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- GBP/USD at 1.26, showing a minor decline of 0.27%, with a pivot point at $1.2683.
- RSI at 54 indicates mild bullish sentiment; pair trades above 50 EMA, suggesting bullish trend continuation.
- Outlook remains bullish above $1.2660, with an eye on testing resistance at $1.2765.
In the ever-evolving forex market, the GBP/USD pair has exhibited a slight retreat, currently trading at 1.26, marking a decline of 0.27%. This movement signals a cautious phase for the pair amidst the broader market dynamics.
The technical landscape for GBP/USD is framed by its pivot point at $1.2683, a crucial marker for future price action. Immediate resistance levels are delineated at $1.2765, $1.2824, and $1.2909. On the downside, the pair finds its immediate support at $1.2621, with further cushions at $1.2536 and $1.2483. These levels are pivotal in determining the pair’s short-term trajectory and will be closely monitored by traders.
The Relative Strength Index (RSI) stands at 54, hovering above the midpoint, which suggests a mildly bullish sentiment. However, it’s important to note that the pair is not in the overbought territory, leaving room for potential upward movement.
Significantly, the GBP/USD is trading above its 50-day Exponential Moving Average (EMA) of $1.2600, reinforcing the current short-term bullish trend. This positioning above the 50 EMA is typically a bullish signal, but vigilance is advised as market conditions remain fluid.
In terms of chart patterns, the GBP/USD is showing a bullish outlook above the $1.2660 level. This pattern suggests that the pair might continue its upward momentum, provided it sustains above this critical threshold.
The overall trend for the GBP/USD pair appears to be bullish, especially when it maintains above the $1.2660 mark.
GBP/USD - Trade Ideas
Entry Price – Buy Above 1.2660
Take Profit – 1.27800
Stop Loss – 1.25700
Risk to Reward – 1: 1.3
Profit & Loss Per Standard Lot = +$1200/ -$900
Profit & Loss Per Mini Lot = +$120/ -$90
GBP/USD Price Analysis – Nov 29, 2023
Daily Price Outlook
The GBP/USD currency pair has maintained its upward momentum, surpassing the 1.2700 level during the early European session on Wednesday. However, this surge was driven by a weakened US Dollar (USD) and diminished US Treasury bond yields. Adding to the bullish sentiment, Bank of England (BoE) Governor Jonathan Haskel emphasized that inflationary pressures persist in the UK labor market. Furthermore, he indicated that there is no coming possibility of reducing interest rates from their 15-year high. This statement by Haskel is widely seen as a key factor contributing to the sustained strength of the GBP/USD pair.
Bank of England's Perspective on Inflation and Monetary Policy
As previously mentioned, Jonathan Haskel, the Governor of the Bank of England, highlighted the ongoing inflationary pressures within the UK job market. Consequently, he expressed the unlikelihood of a near-term reduction in interest rates from their 15-year peak. Deputy Governor Dave Ramsden further emphasized the necessity of maintaining a relatively restrictive monetary policy to effectively curb inflation.
Governor Andrew Bailey has acknowledged the challenge of meeting the central bank's 2% inflation target, citing recent fluctuations primarily driven by changes in energy prices. Nevertheless, the Bank of England's most recent forecasts anticipate a resurgence to the 2% inflation target by the conclusion of 2025.
Hence, the news, including the Bank of England's reluctance to lower interest rates and the acknowledgment of inflation challenges, will contribute to a positive sentiment for the GBP/USD pair, potentially strengthening the pound against the US dollar.
Mixed Data and Waller's Remarks Impact GBP/USD Pair
Furthermore, Federal Reserve Governor Christopher Waller mentioned on Tuesday that though inflation remains high, progress has been achieved, and there's no plan for further rate hikes. This sentiment, signaling a potential end to rate increases, puts downward pressure on the USD, providing support for the GBP/USD pair.
Hence, Waller's remarks on a potential halt in rate hikes lifted GBP/USD as it weakened the USD.
Moving on, traders are watching the US Gross Domestic Product Annualized report for Q3, expected to show a 5.0% growth rate later on Wednesday. Besides this, Bank of England Governor Bailey is scheduled to speak later in the day.
GBP/USD - Technical Analysis
The British Pound shows renewed vigor against the U.S. Dollar, maintaining a steady climb in the Forex market. As of the latest session, GBP/USD has edged up, trading around the 1.2710 mark, a modest increase that extends its recent upward trajectory. The daily chart showcases the pair's assertive break above the Fibonacci retracement level of 1.27194, hinting at potential further gains.
In the broader view, the pivot point stands at 1.25890, now serving as a solid support level after the pair's decisive breakout. Resistance levels are eyed at 1.29050, with subsequent ceilings waiting at higher Fibonacci extensions. Should the pound continue its ascent, these levels could soon come into play.
The Relative Strength Index (RSI) accentuates the bullish momentum, currently reading above the 63 mark, reflecting strong buying pressure without yet breaching into the overbought region. This suggests that there might be room for further upside before any significant retracement.
Complementing the RSI, the pair trades above the 50-day Exponential Moving Average (EMA), reinforcing the bullish stance in the short term. The EMA provides a dynamic support that could bolster buyer confidence should any pullbacks occur.
In summary, the GBP/USD pair is capturing the attention of traders with its bullish momentum, underpinned by technical indicators that favor the continuation of the upward trend. Looking forward, should the pair maintain its hold above key technical levels, the path to higher resistance zones appears clear, with a keen eye on the 1.29050 level for potential challenges.
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GBP/USD Price Analysis and Trade Forecast: Daily Trading Signal
- GBP/USD ascends modestly, trading near 1.2710, signaling continued bullish momentum.
- Technical indicators, including a solid RSI and position above the 50 EMA, support further upside.
- Key resistance ahead at 1.29050, with pivot point 1.25890 now a foundational support.
The British Pound shows renewed vigor against the U.S. Dollar, maintaining a steady climb in the Forex market. As of the latest session, GBP/USD has edged up, trading around the 1.2710 mark, a modest increase that extends its recent upward trajectory. The daily chart showcases the pair's assertive break above the Fibonacci retracement level of 1.27194, hinting at potential further gains.
In the broader view, the pivot point stands at 1.25890, now serving as a solid support level after the pair's decisive breakout. Resistance levels are eyed at 1.29050, with subsequent ceilings waiting at higher Fibonacci extensions. Should the pound continue its ascent, these levels could soon come into play.
The Relative Strength Index (RSI) accentuates the bullish momentum, currently reading above the 63 mark, reflecting strong buying pressure without yet breaching into the overbought region. This suggests that there might be room for further upside before any significant retracement.
Complementing the RSI, the pair trades above the 50-day Exponential Moving Average (EMA), reinforcing the bullish stance in the short term. The EMA provides a dynamic support that could bolster buyer confidence should any pullbacks occur.
In summary, the GBP/USD pair is capturing the attention of traders with its bullish momentum, underpinned by technical indicators that favor the continuation of the upward trend. Looking forward, should the pair maintain its hold above key technical levels, the path to higher resistance zones appears clear, with a keen eye on the 1.29050 level for potential challenges.
GBP/USD - Trade Idea
Entry Price – Sell Below 1.27239
Take Profit – 1.25892
Stop Loss – 1.28357
Risk to Reward – 1: 1.2
Profit & Loss Per Standard Lot = +$1347/ -$1118
Profit & Loss Per Mini Lot = +$134/ -$111
GBP/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- GBP/USD shows a marginal gain to 1.26, reflecting a cautiously optimistic market environment.
- Technical levels indicate immediate resistances at 1.2700, 1.2800, and 1.2900, with supports at 1.2500, 1.2400, and 1.2300, outlining the potential movement range.
- RSI at 70 suggests near-overbought conditions, and a neutral MACD indicates a potential consolidation phase, with the pair trading above the 50 EMA, hinting at a short-term bullish trend.
The GBP/USD pair is currently trading near 1.26, showing a modest increase of 0.01%. This indicates a cautious market sentiment amid broader economic uncertainties. Technically, the pair’s pivot point is at 1.2600, with resistance levels at 1.2700, 1.2800, and 1.2900, which are key to gauging its bullish momentum. Support levels are found at 1.2500, 1.2400, and 1.2300, offering potential buffers against declines.
The Relative Strength Index (RSI) stands at 70, suggesting the pair may be nearing overbought conditions and could face a pullback or stabilization soon. This is further complicated by the Moving Average Convergence Divergence (MACD) displaying neutral values (0.000), indicating a potential consolidation phase or a lack of clear market direction.
A notable factor is the pair’s position relative to the 50-day Exponential Moving Average (EMA) at 1.2500. Currently trading above this level, GBP/USD shows a short-term bullish trend with the 50 EMA acting as dynamic support.
While the chart pattern analysis doesn’t present a definitive trend, close monitoring of candlestick patterns may offer further insight into the pair's short-term movements.
In summary, GBP/USD's overall trend leans cautiously bullish, particularly if it maintains above 1.25889. The short-term outlook suggests the possibility of the pair testing higher resistance, especially around 1.2700. However, given the RSI’s proximity to the overbought territory and the neutral MACD, a careful approach is advised as these indicators might signal a shift in market dynamics.
GBP/USD - Trade Idea
Entry Price – Buy Above 1.25889
Take Profit – 1.26635
Stop Loss – 1.25404
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$746/ -$485
Profit & Loss Per Mini Lot = +$74/ -$48
GBP/USD Price Analysis – Nov 27, 2023
Daily Price Outlook
The GBP/USD currency pair extended its upward rally and drew some further bids around the 1.2500 level during Monday's Asian session. However, the reason for its upward movement could be attributed to the hawkish stance of Bank of England (BoE) officials, who highlighted the necessity for prolonged higher interest rates. Moreover, the GBP/USD pair's upward trend was reinforced by a weakening US dollar, influenced by speculation that the Federal Reserve might consider easing monetary policy in 2024.
BoE's Firm Stance on Tight Monetary Policy and Influences on GBP/USD Dynamics
It's worth noting that Huw Pill, Chief Economist of the Bank of England (BoE), highlighted in a Friday interview with the Financial Times that the central bank is firm in its commitment to combating inflation and has no intentions of relaxing its tight monetary policy. He underscored the importance of maintaining higher interest rates for an extended duration. BoE Governor Andrew Bailey has also recently expressed views in favor of the necessity of keeping interest rates elevated for an extended period.
Meanwhile, the GBP/USD pair received a boost from positive PMI data released on Thursday in the UK. Business activity showed signs of improvement, with both the Services and Composite PMIs expanding in November after three months of decline. This development surprised many who were anticipating stagnation, signaling a positive turn in the UK's economic performance.
On the data front, the Manufacturing PMI improved, but it's still below the expansion mark. On the consumer side, GfK Consumer Confidence for November experienced a decline, surpassing initial expectations. These factors introduce some complexity to the overall picture, influencing the dynamics of the GBP/USD pair.
Factors Influencing GBP/USD Pair and Upcoming Economic Indicators
Another key factor bolstering the GBP/USD pair was the weaker US dollar. Despite the improvement in US Treasury yields, the US Dollar Index (DXY) extended its losing streak. The 10-year US bond yield remained steady at 4.49% for the fourth consecutive session.
It's important to note that there is discussion about the US Federal Reserve considering changes to its monetary policy next year. However, recent comments from Fed officials last week added some complexity to the situation. They stressed that decisions will be based on incoming data, highlighting the importance of monitoring economic indicators to address concerns about inflation.
GBP/USD - Technical Analysis
The GBP/USD pair is currently trading near 1.26, showing a modest increase of 0.01%. This indicates a cautious market sentiment amid broader economic uncertainties. Technically, the pair’s pivot point is at 1.2600, with resistance levels at 1.2700, 1.2800, and 1.2900, which are key to gauging its bullish momentum. Support levels are found at 1.2500, 1.2400, and 1.2300, offering potential buffers against declines.
The Relative Strength Index (RSI) stands at 70, suggesting the pair may be nearing overbought conditions and could face a pullback or stabilization soon. This is further complicated by the Moving Average Convergence Divergence (MACD) displaying neutral values (0.000), indicating a potential consolidation phase or a lack of clear market direction.
A notable factor is the pair’s position relative to the 50-day Exponential Moving Average (EMA) at 1.2500. Currently trading above this level, GBP/USD shows a short-term bullish trend with the 50 EMA acting as dynamic support.
While the chart pattern analysis doesn’t present a definitive trend, close monitoring of candlestick patterns may offer further insight into the pair's short-term movements.
In summary, GBP/USD's overall trend leans cautiously bullish, particularly if it maintains above 1.25889. The short-term outlook suggests the possibility of the pair testing higher resistance, especially around 1.2700. However, given the RSI’s proximity to the overbought territory and the neutral MACD, a careful approach is advised as these indicators might signal a shift in market dynamics.
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GBP/USD Price Analysis – Nov 22, 2023
Daily Price Outlook
Despite the bullish trend in the US dollar, the GBP/USD currency pair prolonged its winning streak and drew some additional bids around the 1.2540 level. However, the upward momentum in the pair can be attributed to the hawkish remarks made overnight by the Bank of England's (BoE) Bailey. These comments bolstered the British pound and contributed to the gains in the GBP/USD pair.
Meanwhile, the minutes from the Federal Reserve's (Fed) meeting held on October 31-November 1 revealed that policymakers supported the idea of maintaining higher interest rates for an extended period to combat inflation. This stance helped the US dollar regain its lost momentum, leading to a slight surge on the day.
Consequently, the bullish bias in the US dollar was seen as a key factor that kept the lid on any additional gains in the GBPUSD pair.
BoE's Hawkish Stance Fuels GBP/USD Surge
As we mentioned above the British Pound is experiencing a boost due to recent positive comments from Bank of England (BoE) officials. They have indicated their intention to maintain high interest rates for an extended period to address inflation concerns in the UK.
During a meeting on Tuesday, Bank of England Governor Andrew Bailey expressed concern that investors are placing excessive reliance on recent data without fully appreciating the potential persistence of inflation in the UK. He underscored the BoE's commitment to maintaining high-interest rates for an extended duration, opposing the notion that rates might be lowered by June 2024.
Hence, the optimistic remarks from the Bank of England, highlighting the commitment to maintaining high-interest rates for an extended period to address inflation, have propelled the GBP/USD pair.
US Dollar's Struggles Amid Fed's Mixed Signals and Rate Cut Anticipation
Moreover, the US Dollar struggles to bounce back despite a recent recovery, following the Federal Reserve's (Fed) meeting minutes suggesting a plan for keeping interest rates higher for an extended period to control inflation. However, this boosted the US dollar. Although, the positive market response didn't last because many believe the Fed will likely maintain current interest rates instead of raising them.
Meanwhile, the expectation of a potential rate cut at the April 30-May 1 policy meeting is further dampening the US dollar. This anticipation is keeping the yield on the 10-year US government bond low for the time being, diminishing the attractiveness of the USD.
Looking forward, traders will look to US data, including Weekly Initial Jobless Claims, Durable Goods Orders, and the revised Michigan Consumer Sentiment Index, for market direction.
GBP/USD - Technical Analysis
As of November 22, the GBP/USD pair exhibits a complex movement pattern in the forex market, trading at 1.25353, marking a slight decrease of 0.01%. This minor fluctuation occurs within a larger framework of shifting economic conditions and adjustments in monetary policy in both the UK and the US.
The pair's key pivot point is established at 1.2575. It faces immediate resistance at 1.2683, with further potential barriers at 1.2853 and 1.3027. On the downside, support levels are identified at 1.2397, followed by 1.2285 and 1.2115, which are crucial in preventing further declines.
From a technical standpoint, the Relative Strength Index (RSI) stands at 68, suggesting a bullish trend that hasn't yet reached overbought conditions. The MACD, with a value of 0.000010 and a signal value of 0.003860, indicates potential upward momentum, as it is positioned slightly above the signal line. Additionally, the current price hovers just above the 50-Day Exponential Moving Average (EMA) at 1.2526, further reinforcing the bullish inclination.
Chart analysis, including patterns and candlestick formations, points towards possible bullish momentum, especially if the pair remains above the pivot point.
In conclusion, the overall trend for GBP/USD appears cautiously bullish, particularly if it sustains above the 1.2575 level. However, a fall below this pivot could shift the sentiment to bearish. In the short term, the pair is expected to challenge the resistance at 1.2683, and if the bullish trend continues, it may test even higher levels.
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GBP/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- GBP/USD at 1.25353, slightly down by 0.01%, with a pivot point at 1.2575.
- RSI at 68 and MACD above the signal line, both indicating bullish tendencies.
- Expected to test resistance at 1.2683, with a bullish outlook above the pivot point.
As of November 22, the GBP/USD pair exhibits a complex movement pattern in the forex market, trading at 1.25353, marking a slight decrease of 0.01%. This minor fluctuation occurs within a larger framework of shifting economic conditions and adjustments in monetary policy in both the UK and the US.
The pair's key pivot point is established at 1.2575. It faces immediate resistance at 1.2683, with further potential barriers at 1.2853 and 1.3027. On the downside, support levels are identified at 1.2397, followed by 1.2285 and 1.2115, which are crucial in preventing further declines.
From a technical standpoint, the Relative Strength Index (RSI) stands at 68, suggesting a bullish trend that hasn't yet reached overbought conditions. The MACD, with a value of 0.000010 and a signal value of 0.003860, indicates potential upward momentum, as it is positioned slightly above the signal line. Additionally, the current price hovers just above the 50-Day Exponential Moving Average (EMA) at 1.2526, further reinforcing the bullish inclination.
Chart analysis, including patterns and candlestick formations, points towards possible bullish momentum, especially if the pair remains above the pivot point.
In conclusion, the overall trend for GBP/USD appears cautiously bullish, particularly if it sustains above the 1.2575 level. However, a fall below this pivot could shift the sentiment to bearish. In the short term, the pair is expected to challenge the resistance at 1.2683, and if the bullish trend continues, it may test even higher levels.
GBP/USD - Trade Idea
Entry Price – Sell Below 1.25461
Take Profit – 1.24638
Stop Loss – 1.26274
Risk to Reward – 1: 1
Profit & Loss Per Standard Lot = +$823/ -$813
Profit & Loss Per Mini Lot = +$82/ -$81
GBP/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
The British Pound (GBP/USD) notched a 0.19% rise to $1.24855, capturing the market's modest optimism. The pair's pivot point stands at $1.2570, a pivotal level that may pave the way for a test of the immediate resistance at $1.2682. Ascending the ladder, the subsequent resistance levels at $1.2858 and $1.3029 represent potential targets for bullish ambitions. Conversely, a network of support begins at $1.2400, with further floors at $1.2288 and $1.2112, safeguarding against downward pressures.
The Relative Strength Index (RSI) is teetering on the brink of overbought territory at 69, signaling heightened buying activity that could presage a forthcoming consolidation phase. The MACD's minute crossover above the signal line at 0.00006 against 0.00311 echoes this sentiment, suggesting the presence of upward momentum. Supporting the bullish narrative, the GBP/USD's stance above the 50 EMA of $1.2447 provides a backdrop for potential continuation of the current trend.
The 4-hour chart displays a 'Three White Soldiers' pattern, commonly regarded as a bullish signal, further cementing the case for a continued uptrend. This pattern, in conjunction with the hovering RSI, offers a dual narrative: one of potential continuation and the other cautioning against potential overextension.
The GBP/USD presents a bullish case as long as it sustains levels above $1.24422. Traders are positioned for a potential ascent towards the noted resistances, with the 50 EMA serving as a litmus test for the strength of the ongoing trend.
GBP/USD - Trade Idea
Entry Price – Buy Above 1.24422
Take Profit – 1.25580
Stop Loss – 1.23700
Risk to Reward – 1: 1.6
Profit & Loss Per Standard Lot = +$1158/ -$722
Profit & Loss Per Mini Lot = +$115/ -$72