GBP/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- GBP/USD remains bearish below $1.26228, with key resistance at $1.26896.
- The 50-day EMA at $1.26304 serves as a critical barrier for buyers.
- Sell entry below $1.26217, target $1.25363, stop-loss at $1.26894.
The GBP/USD pair is trading at $1.26002, down 0.01%, as the British pound struggles to hold ground against a resilient U.S. dollar. With the pair positioned just below the pivot point of $1.26228, the short-term outlook leans slightly bearish.
Immediate resistance is seen at $1.26896, followed by $1.27505 and $1.28060. A break above $1.26228 would shift sentiment bullish, with the 50-day EMA at $1.26304 acting as a key hurdle for buyers. However, sustained weakness below this level may reinforce further downside.
On the support side, $1.25586 serves as the first line of defense, with $1.25087 and $1.24528 providing deeper support zones. If the pair breaks below $1.25586, the decline could accelerate, potentially reaching the $1.25087 level, which aligns with previous consolidation areas.
From a technical perspective, the 50-day EMA at $1.26304 is acting as dynamic resistance. A sell entry below $1.26217 is favored, with a take-profit target at $1.25363 and a stop-loss at $1.26894 to cap risk.
GBP/USD - Trade Ideas
Entry Price – Sell Below 1.26217
Take Profit – 1.25363
Stop Loss – 1.26894
Risk to Reward – 1: 1.2
Profit & Loss Per Standard Lot = +$854/ -$677
Profit & Loss Per Mini Lot = +$85/ -$67
JOIN LHFX TODAY
24/7 live support, lightning fast withdrawals, guaranteed safe and reliable trading platforms with a true ECN broker.