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

Daily Price Outlook

- GBP/USD remains bearish below $1.29908, with downside targets at $1.29521 and $1.29286.

- 50-day EMA at $1.29616 offers near-term support, with a breakdown increasing bearish - pressure.

- Resistance at $1.30097 must be breached for a potential rebound, but sentiment remains weak.

GBP/USD is trading around $1.29787, down slightly as the pair faces resistance near the $1.29908 pivot point.

Despite recent attempts to push higher, the pound remains under pressure, with immediate resistance at $1.30097 and further upside barriers at $1.30280 and $1.30457. If buyers fail to reclaim $1.29908, the pair could see renewed selling pressure.

On the downside, $1.29521 is the first level of support, followed by $1.29286 and $1.29106 if bearish momentum accelerates.

The 50-day EMA at $1.29616 is providing dynamic support, but a breakdown below this moving average could trigger a sharper decline.

A break below $1.29908 could confirm additional weakness, targeting $1.29521 and $1.29286 in the near term.

Conversely, if the pair manages to rise above $1.30097, it may attract fresh buying interest, but sustained gains remain uncertain amid global risk factors.

Traders should monitor $1.29521 closely, as a breach of this level could accelerate losses, pushing GBP/USD toward $1.29286.

For now, the pair remains vulnerable to downside risks, with price action likely dictated by upcoming economic data and central bank commentary.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.29910

Take Profit – 1.29516

Stop Loss – 1.30174

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$394/ -$264

Profit & Loss Per Mini Lot = +$39/ -$26