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

Daily Price Outlook

- Bullish Momentum: GBP/USD remains bullish above the pivot point at $1.26211 and the 50 EMA at $1.26244.

- Critical Resistance Levels: Watch for a breakout above $1.26896 to target $1.27569 and $1.28233.

- Support Levels: Key support at $1.25660 and $1.25087; a break below could signal a bearish reversal.

GBP/USD is trading at $1.26401, showing a slight upward movement, maintaining support above the pivot point at $1.26211. This level is crucial as it is reinforced by the 50 EMA at $1.26244, which is acting as dynamic support.

The technical outlook remains bullish as long as GBP/USD stays above this level. A break above the immediate resistance at $1.26896 could propel the pair toward the next resistance at $1.27569, with a potential extension to $1.28233.

On the downside, if prices fall below the pivot point, immediate support is at $1.25660, followed by $1.25087 and $1.24528. A break below the 50 EMA would signal a bearish reversal, increasing selling pressure. However, the overall outlook remains bullish as long as GBP/USD trades above $1.26211 and the 50 EMA.

Traders should watch for a decisive breakout above $1.26896 for a bullish continuation, while a drop below $1.26211 may indicate a bearish pullback.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.26226

Take Profit – 1.27039

Stop Loss – 1.25733

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$813/ -$493

Profit & Loss Per Mini Lot = +$81/ -$49