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

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

GBP/USD

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