Daily Trade Ideas

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

By LHFX Technical Analysis
Sep 11, 20231 min
Gbpusd

Daily Price Outlook

    The GBP/USD pair is revisiting the 1.2505 mark. Recent higher lows observed indicate a potential ascent in the upcoming trading sessions. If the pair exceeds the aforementioned level, it is poised to approach 1.2625.

    Today's outlook is inclined towards a bullish trend, bolstered by favorable indications from the stochastic oscillator. It's important to note, however, that if the pair cannot surpass the 1.2505 threshold, it might revert to its predominant bearish trajectory with an aim towards 1.2395.

    We project the GBP/USD's trading spectrum for the day to span between a 1.2430 support and a 1.2590 resistance. The day's anticipated trend is bullish.

    GBP/USD Price Chart – Source: Tradingview
    GBP/USD Price Chart – Source: Tradingview

    GBP/USD - Trade Idea 

    Entry Price – Buy Above 1.25117

    Take Profit – 1.25735

    Stop Loss – 1.24606

    Risk to Reward – 1: 1.21

    Profit & Loss Per Standard Lot = +$618/ -$511

    Profit & Loss Per Micro Lot = +$61/ -$51

    Please click here to read and acknowledge our Trade Ideas Disclaimer before using these ideas in your strategies and trading. This document’s information, including forex signals and research, is for general informational and educational purposes only and does not provide specific financial, investment, or trading advice.

    GBP/USD

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