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

Daily Price Outlook

- GBP/USD rejected from descending trendline near $1.29582

- RSI below 50 shows waning bullish strength

- Breakdown below $1.29187 favors a move toward $1.28670

The British pound is once again testing the lower end of a narrow consolidation zone as GBP/USD slips to $1.29331.

Price action remains range-bound below the descending trendline extending from the March high, with bearish pressure mounting as the pair struggles to reclaim the $1.29582 resistance.

The pair is now hovering just above a key pivot zone at $1.29187—an area that, if broken, could shift momentum firmly in favor of the bears.

The setup favors a short position below $1.29187, targeting $1.28670 as the next support, with a protective stop placed at $1.29582.

This configuration offers a risk-reward ratio of approximately 1:2, ideal for short-term positioning in a market that remains technically indecisive.

RSI currently reads 48.36—below the neutral midpoint—indicating fading bullish momentum and the potential for a deeper pullback if price closes below support.

The 50-period Simple Moving Average sits at $1.29286 and is now flatlining, suggesting a loss of directional bias.

However, a break below the moving average and horizontal support could open the door to further downside toward $1.28300.

Meanwhile, bulls would need to clear $1.29704 to invalidate the bearish scenario and shift momentum higher toward $1.30143.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.29187

Take Profit – 1.28670

Stop Loss – 1.29582

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$517/ -$395

Profit & Loss Per Mini Lot = +$51/ -$39