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

Daily Price Outlook

- Bearish bias below $1.23069, with downside targets at $1.22281 and $1.21595.

- Resistance at $1.23877 could cap recovery attempts unless buyers gain strong momentum.

- 50-EMA at $1.24076 reinforces bearish pressure, acting as a key dynamic resistance.

The GBP/USD pair is trading at $1.22693, down 0.97%, reflecting sustained bearish momentum as the pair struggles below key technical levels.

The price is currently hovering beneath the pivot point at $1.23076, signaling a potential continuation of the downtrend.

Notably, the 50-day Exponential Moving Average (EMA) at $1.24076 adds further pressure from above, reinforcing the bearish outlook unless a strong reversal occurs.

If sellers maintain control, immediate support is seen at $1.22284. A break below this level could accelerate declines toward $1.21595, with $1.21054 as the next critical support zone.

Conversely, if the pair manages to recover above the pivot point, initial resistance is expected at $1.23877. Surpassing this could open the door for further gains toward $1.24541 and $1.25225, though such moves may face strong selling interest given the broader bearish bias.

The technical structure favors a bearish outlook below $1.23069, with a recommended sell entry at this level. The take-profit target is set at $1.22281 to capture potential downside momentum, while a stop-loss at $1.23565 helps manage risk in case of unexpected reversals. A sustained move above the 50-EMA would be required to shift the bias towards a more bullish scenario.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.23069

Take Profit – 1.22281

Stop Loss – 1.23565

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$788/ -$496

Profit & Loss Per Mini Lot = +$78/ -$49