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

Daily Price Outlook

- Immediate resistance at $1.25601; next levels: $1.26142 and $1.26639.

- Support levels include $1.24349, $1.23624, and $1.23014.

- RSI at 48 and 50 EMA at $1.25028 highlight a neutral bias, with potential for breakout moves.

GBP/USD is trading at $1.24863, up 0.08% on the day, hovering just below the pivot point of $1.25034. The 4-hour chart highlights immediate resistance at $1.25601, followed by key levels at $1.26142 and $1.26639, indicating areas where bullish momentum may face challenges.

On the downside, immediate support is at $1.24349, with subsequent levels at $1.23624 and $1.23014, marking critical zones for potential bearish moves.

The RSI at 48 reflects neutral market sentiment, while the 50 EMA at $1.25028 is nearly aligned with the pivot point, suggesting a critical zone for price action.

A decisive break below $1.25029 could initiate selling pressure, with the first target at $1.24338. Conversely, a sustained move above $1.25601 may signal bullish momentum, targeting higher resistance levels.

Traders are advised to watch the $1.25034 pivot point closely. Selling below this level offers a favorable risk-to-reward setup, with a take-profit target of $1.24338 and a stop-loss at $1.25520.

However, a break above $1.25601 could attract buying interest, signaling potential upside toward $1.26142. Market participants should monitor economic releases and central bank statements for directional cues.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.25029

Take Profit – 1.24338

Stop Loss – 1.25520

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$691/ -$491

Profit & Loss Per Mini Lot = +$69/ -$49