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

Daily Price Outlook

- GBP/USD trades above pivot at $1.29271, signaling mild bullish bias.

- Break above $1.29740 may open path toward $1.30138 and $1.30457.

- Buy setup valid above $1.29277; target $1.29880, stop at $1.28996.

The GBP/USD pair is trading at $1.29359, registering a modest gain of +0.04%, as the pound holds steady above its pivot point at $1.29271. Price action remains constructive on the 4-hour chart, supported by an upward bias as long as it stays above the pivot.

The pair is testing the 50-period EMA at $1.29408, which now serves as an immediate technical barrier. A confirmed break above this level would reinforce short-term bullish momentum.

Immediate resistance is located at $1.29740, with the next upside targets at $1.30138 and $1.30457. A move beyond these levels could open the door for further gains, particularly if upcoming U.S. data pressures the dollar.

On the downside, initial support lies at $1.28879, followed by $1.28616 and $1.28212, where buyers may reemerge if the pair retraces.

From a technical standpoint, the pair is positioned for further upside as long as it holds above $1.29277, which coincides with the pivot and is near the current trading range.

The recommended strategy favors a buy-on-break above this level, with a take-profit target set at $1.29880, while a stop-loss is advised at $1.28996 to mitigate risk.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.29277

Take Profit – 1.29880

Stop Loss – 1.28996

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$603/ -$281

Profit & Loss Per Mini Lot = +$60/ -$28