Daily Price Outlook

- GBP/USD must hold above $1.29094 to sustain a bullish bias, with $1.29655 as the next major resistance level.

- The 50-day EMA at $1.29086 acts as key support—a break below could accelerate losses toward $1.28691 and lower.

- A buy setup above $1.29094 with take-profit at $1.29788 and stop-loss at $1.28740 aligns with the current trend structure.

The GBP/USD pair is trading at $1.29285, showing slight downward pressure but maintaining stability above the key pivot point at $1.29094. The 50-day EMA at $1.29086 reinforces this level, suggesting that staying above it could keep the pair in a bullish zone.

On the upside, immediate resistance is at $1.29655, followed by $1.30114 and $1.30606. A break above $1.29655 could spark further upside momentum, with traders eyeing the psychological $1.30 level as a potential inflection point. However, failing to surpass resistance may lead to continued range-bound movement.

Support levels lie at $1.28691, $1.28206, and $1.27756. A drop below $1.28691 could indicate renewed selling pressure, possibly pushing the pair toward $1.28206, where stronger demand could emerge. The 50-day EMA at $1.29086 is a key short-term threshold—if breached, it could shift sentiment to the downside.

A buy strategy above $1.29094 is preferred, targeting $1.29788 while maintaining a stop-loss at $1.28740 to mitigate risk.

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

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.29094

Take Profit – 1.29788

Stop Loss – 1.28740

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$694/ -$354

Profit & Loss Per Mini Lot = +$69/ -$35

GBP/USD

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