Daily Price Outlook

- Bullish Above $1.26211: Holding above the pivot targets $1.26896 and $1.27569, indicating continued upward momentum.

- Bearish Below $1.26211: A breakdown could see declines towards $1.25660 and $1.25087, signaling a potential bearish reversal.

- Technical Setup: 50 EMA at $1.26219 acts as dynamic support, reinforcing short-term bullish sentiment.

GBP/USD is trading at $1.26528, down 0.01%, reflecting a cautious sentiment as it hovers above the pivot point at $1.26211. The pair is trading slightly above the 50 EMA at $1.26219, signaling short-term bullish momentum.

If the price maintains its position above the pivot, the next target is immediate resistance at $1.26896. A break above this level could push prices towards $1.27569, with a further move towards $1.28233 if bullish momentum continues.

On the downside, if GBP/USD breaks below the pivot at $1.26211, it would shift sentiment to bearish, targeting immediate support at $1.25660.

A deeper decline could see the pair testing $1.25087, with a more substantial floor at $1.24528 if selling pressure intensifies. The 50 EMA at $1.26219 acts as dynamic support, and a break below this level would confirm a bearish reversal.

The technical outlook suggests a cautious buy above the pivot at $1.26218, targeting $1.27126 with a stop loss at $1.25869.

This setup aligns with the short-term bullish bias while maintaining a favorable risk-reward ratio. Traders should watch for volume confirmation and price action around the $1.26896 resistance to validate the bullish momentum.

Conversely, a break below $1.26211 would invalidate the bullish setup and shift sentiment to bearish, likely driving prices towards $1.25660 and beyond.

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

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.26218

Take Profit – 1.27126

Stop Loss – 1.25869

Risk to Reward – 1: 2.6

Profit & Loss Per Standard Lot = +$908/ -$349

Profit & Loss Per Mini Lot = +$90/ -$34

GBP/USD

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