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

Daily Price Outlook

- GBP/USD holds above $1.29170 pivot, maintaining short-term bullish structure.

- Breakout above $1.29660 EMA could target $1.30133 and $1.30457.

- Entry strategy: Buy above $1.29315, take profit at $1.29802, stop loss at $1.29003.

GBP/USD is holding steady at $1.29491, showing minimal movement in early Tuesday trading. The pair remains within a short-term consolidation range, supported by improving risk sentiment and broad U.S. dollar consolidation.

The current structure reflects a tug-of-war between technical resistance and supportive macro undercurrents.

On the 4-hour chart, price action is hovering just below the 50-day Exponential Moving Average (EMA) at $1.29660.

A decisive break above this zone could open the door to further gains, with immediate resistance levels aligned at $1.29703, followed by $1.30133 and $1.30457. These levels represent critical hurdles that GBP/USD must clear to resume a more sustained uptrend.

The pivot point sits at $1.29170. As long as the pair holds above this threshold, the near-term bullish bias remains valid.

A break below $1.29170 could expose the pair to downside support at $1.28879, with further cushions at $1.28616 and $1.28212.

Traders will be watching closely for upcoming U.K. inflation data, which could influence short-term rate expectations and impact sterling’s momentum.

In the meantime, a potential long setup emerges with entry above $1.29315, targeting a move toward $1.29802, while a protective stop below $1.29003 helps manage downside risk.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.29315

Take Profit – 1.29802

Stop Loss – 1.29003

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$487/ -$312

Profit & Loss Per Mini Lot = +$48/ -$31