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

Daily Price Outlook

- Pivot Point: $1.25900 is crucial; bearish below, bullish above.

- Support Levels: Immediate support at $1.24776, followed by $1.24302 and $1.23771.

- Resistance Levels: Key resistance at $1.26586, $1.27292, and $1.27819 caps upward movement.

GBP/USD is trading at $1.25782, up 0.02% on the session, showing cautious optimism as it approaches the pivot point at $1.25900.

The pair has maintained a modestly bullish tone, supported by its position above the 50 EMA, currently at $1.25441.

However, the pivot point remains a critical level; a failure to break higher could shift momentum to the downside.

Immediate resistance is at $1.26586, with further levels at $1.27292 and $1.27819, forming a significant ceiling for any bullish breakout.

On the downside, support is seen at $1.24776, with secondary levels at $1.24302 and $1.23771, marking key areas of interest for sellers.

The RSI at 57 indicates moderately bullish momentum, suggesting room for further gains without entering overbought territory.

The 4-hour chart reflects consolidation near the pivot, highlighting indecision as traders await a directional move.

A short-term sell strategy below $1.25890 with a target of $1.24989 and a stop loss at $1.26459 aligns with the technical setup.

Alternatively, a sustained break above $1.25900 could set the stage for a test of $1.26586. Traders should monitor market sentiment closely as this level acts as a pivotal barrier for the next trend.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.25890

Take Profit – 1.24989

Stop Loss – 1.26459

Risk to Reward – 1: 1.5

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

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