GBP/USD Price Analysis – April 07, 2025
Daily Price Outlook
During the European trading session, the GBP/USD currency pair has gained some bullish momentum, reaching an intra-day high of 1.2934.
However, this recovery seems to lack strong conviction, as the broader global economic outlook remains uncertain. Despite this, the pair is getting a lift from the ongoing decline in the US Dollar, which has been weakening due to changing market expectations.
Bearish US Dollar Outlook Amid Trade War Concerns and Fed Rate Cut Expectations
However, the reason for the weaker US dollar is growing concern about global economic growth, sparked by US President Donald Trump's announcement of large reciprocal tariffs.
These tariffs have raised fears of a prolonged trade war, which could slow down global economic activity. This uncertainty has shaken investor confidence, leading to lower risk appetite and significant losses in global stock markets.
While the US Dollar initially strengthened as a safe-haven currency, its rise has started to slow down as market expectations shift towards the Federal Reserve taking a more dovish approach.
Therefore, this shift in market expectations has led to a more cautious outlook for the USD. Investors now expect the Federal Reserve to start cutting rates again, especially if the US economy slows down due to the tariffs.
As a result, the USD has had trouble attracting buyers, which has helped support the GBP/USD pair.
GBP Strengthened by BoE's Slower Rate Cuts and Positive Outlook for GBP/USD
On the other hand, the British Pound has drawn support from expectations that the Bank of England (BoE) will slow its pace of rate cuts compared to other central banks, including the Fed.
Therefore, the BoE's slower pace of rate cuts compared to the Fed strengthens the GBP, supporting a more positive outlook for the GBP/USD pair, potentially leading to upward movement in its value.
GBP/USD – Technical Analysis
After an aggressive sell-off from $1.3206, the British pound (GBP/USD) has entered a corrective phase, but gains remain capped below the $1.2955 resistance level. The pair is trading just under the 50-period SMA at $1.2957, which coincides with the 38.2% Fibonacci retracement—now acting as resistance.
Price failed to sustain above the key pivot at $1.2913 and is hovering near a critical support zone. If this level breaks, it may open the door toward $1.2821, where the ascending trendline converges with horizontal support.
Downside pressure is reinforced by a sharply falling RSI, currently at 38.71, suggesting bearish momentum still has room to run. The 50 SMA has flattened, pointing to market indecision in the near term. A deeper pullback could extend toward $1.2769 or even $1.2720 if $1.2821 fails to hold.
That said, upside risks remain if GBP/USD can clear $1.2955 decisively. A sustained move higher could see the pair test $1.3014 and $1.3060—levels aligning with the 50% and 61.8% retracements of the recent drop.
However, without a clean break above the 50 SMA and Fibonacci cluster, rallies are likely to face selling pressure. Bias favors the downside as long as price stays below $1.2955. Break below $1.2821 opens room for deeper retracement toward $1.2720.
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GBP/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Bearish bias below $1.2955, with the 50 SMA and Fibonacci resistance reinforcing downside pressure.
- Support at $1.2821 is critical—a break below could accelerate the move toward $1.2769 and $1.2720.
- RSI at 38.71 signals increasing bearish momentum, with rallies likely to face resistance unless $1.2955 is reclaimed.
After an aggressive sell-off from $1.3206, the British pound (GBP/USD) has entered a corrective phase, but gains remain capped below the $1.2955 resistance level. The pair is trading just under the 50-period SMA at $1.2957, which coincides with the 38.2% Fibonacci retracement—now acting as resistance.
Price failed to sustain above the key pivot at $1.2913 and is hovering near a critical support zone. If this level breaks, it may open the door toward $1.2821, where the ascending trendline converges with horizontal support.
Downside pressure is reinforced by a sharply falling RSI, currently at 38.71, suggesting bearish momentum still has room to run. The 50 SMA has flattened, pointing to market indecision in the near term. A deeper pullback could extend toward $1.2769 or even $1.2720 if $1.2821 fails to hold.
That said, upside risks remain if GBP/USD can clear $1.2955 decisively. A sustained move higher could see the pair test $1.3014 and $1.3060—levels aligning with the 50% and 61.8% retracements of the recent drop.
However, without a clean break above the 50 SMA and Fibonacci cluster, rallies are likely to face selling pressure. Bias favors the downside as long as price stays below $1.2955. Break below $1.2821 opens room for deeper retracement toward $1.2720.
GBP/USD - Trade Ideas
Entry Price – Sell Below 1.29548
Take Profit – 1.28216
Stop Loss – 1.30258
Risk to Reward – 1: 1.8
Profit & Loss Per Standard Lot = +$1332/ -$710
Profit & Loss Per Mini Lot = +$133/ -$71
GBP/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- GBP/USD hovers above trendline support at $1.2909.
- Momentum lacks conviction; RSI near midline.
- Bullish trigger lies above $1.2909, targeting $1.2966.
GBP/USD is consolidating just above the $1.2909 threshold, testing trendline support while trading slightly below the 50-SMA at $1.2932.
The pair’s structure is largely range-bound, with repeated attempts to break above $1.2972 meeting firm resistance.
Today’s price action remains cautious as traders await fresh macro catalysts. The RSI stands at 48.50, signaling indecision with a slight bearish divergence against recent higher lows in price.
A break and sustained move above the entry trigger at $1.2909 could initiate a recovery toward $1.2966, which marks the top of the recent range and immediate resistance.
The bullish case is supported by a confluence of support levels, including rising trendline support from the March lows and the psychological zone near $1.2874.
However, any failure to hold the $1.2874 level would likely expose $1.2843 and potentially $1.2813, reintroducing a bearish bias in the near term.
The technical bias remains neutral-to-bullish above $1.2909. A breakout above $1.2932 could lift the pair toward $1.2966, while a drop below $1.2874 would negate the setup.
GBP/USD - Trade Ideas
Entry Price – Buy Above 1.29098
Take Profit – 1.29660
Stop Loss – 1.28731
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$562/ -$367
Profit & Loss Per Mini Lot = +$56/ -$36
GBP/USD Price Analysis – April 02, 2025
Daily Price Outlook
During the European trading session, the GBP/USD pair faced a notable rally, holding its ground around the 1.2950 level and reaching an intra-day high of 1.2950.
However, the British Pound’s strength came primarily from a weaker US Dollar, which helped push the pair higher. However, market sentiment remained cautious ahead of the much-anticipated announcement of a reciprocal tariff plan by US President Donald Trump later in the day.
Trump’s “Liberation Day” Tariffs Raise Inflation Concerns and GBP/USD Volatility
US President Trump’s “Liberation Day” plan aims to impose tariffs on imports, potentially as high as 20%. This move has raised concerns about its impact on global trade, with fears that it could drive up import prices and worsen inflation.
The market became more cautious as traders worried about escalating trade tensions, especially if the tariffs are higher than expected.
The White House has suggested that tariffs could be adjusted if trading partners open up more to US imports, but this hasn't eased concerns. If these tariffs are applied, US inflation may rise, which could keep the Federal Reserve focused on maintaining higher interest rates.
For the GBP/USD pair, this could lead to more volatility as higher tariffs could push the US dollar up as inflationary pressures mount, making the GBP/USD more sensitive to changes in US economic policies.
UK Economy Faces Pressures from Trump's Trade Policies and Cooling Wage Growth
On the other hand, the UK economy continues to face uncertainties, with concerns exacerbated by Trump’s trade policies.
The UK Office for Business Responsibility (OBR) warned that the potential repercussions of Trump's tariffs could undermine the government's fiscal buffer and shrink the UK economy by as much as 1%.
Moreover, the delay in finalizing an economic deal between the US and the UK has added to the uncertainty, with concerns that the terms of any trade agreement could change following the tariff announcement.
Despite this, cooling wage growth in the UK adds to the pressures on the British currency. Data from Incomes Data Research (IDR) revealed that the median pay increase for the three months to February slowed to 3.5%, the lowest in three years, down from the prior release of 4%.
This decrease in wage growth has fueled expectations that the Bank of England (BoE) may take a dovish stance in the near future, potentially further weighing on the GBP.
Therefore, the BoE's dovish outlook, combined with the risk of escalating trade tensions, has contributed to the cautious trading behavior of the Pound.
Investors are uncertain about the implications of Trump's tariff policy on global economic growth, which could ultimately affect the UK's economic performance and trade relations with the US.
US ADP Employment Data Expected to Boost Dollar and Pressure GBP/USD
In addition to geopolitical concerns, Wednesday’s market session will also be focused on the release of the ADP Employment Change data for March, which is expected to show that private employers added 105,000 jobs.
This would represent an increase from the 77,000 jobs added in February, highlighting continued resilience in the US labor market.
Therefore, the ADP Employment Change data, showing an increase in job growth, could strengthen the US dollar, putting downward pressure on GBP/USD as expectations for a more hawkish Fed rise.
GBP/USD – Technical Analysis
GBP/USD is consolidating just above the $1.2909 threshold, testing trendline support while trading slightly below the 50-SMA at $1.2932.
The pair’s structure is largely range-bound, with repeated attempts to break above $1.2972 meeting firm resistance.
Today’s price action remains cautious as traders await fresh macro catalysts. The RSI stands at 48.50, signaling indecision with a slight bearish divergence against recent higher lows in price.
A break and sustained move above the entry trigger at $1.2909 could initiate a recovery toward $1.2966, which marks the top of the recent range and immediate resistance.
The bullish case is supported by a confluence of support levels, including rising trendline support from the March lows and the psychological zone near $1.2874.
However, any failure to hold the $1.2874 level would likely expose $1.2843 and potentially $1.2813, reintroducing a bearish bias in the near term.
The technical bias remains neutral-to-bullish above $1.2909. A breakout above $1.2932 could lift the pair toward $1.2966, while a drop below $1.2874 would negate the setup.
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GBP/USD Price Analysis – March 31, 2025
Daily Price Outlook
The British Pound (GBP) is holding firm against the U.S. Dollar (USD), hovering under 1.2950 despite mounting global uncertainty and a hotter-than-expected U.S. inflation report. At the time of writing, GBP/USD trades under 1.2950, virtually flat on the day as traders parse a mix of macro data and geopolitical developments.
The market is currently digesting February’s PCE Price Index, released by the U.S. Bureau of Economic Analysis (BEA). The headline print held steady at 2.5% YoY, while the core PCE, the Federal Reserve’s preferred inflation gauge, rose to 2.8%—slightly above January’s 2.7% and market expectations.
The inflation data adds complexity to the Fed’s rate outlook, especially as price growth continues to drift above the 2% target. However, deteriorating sentiment from U.S. consumers may temper expectations of near-term policy tightening.
Consumer Sentiment Slides as Inflation Expectations Rise
The University of Michigan’s Consumer Sentiment Index fell to 57.0 from the preliminary reading of 57.9, reflecting growing pessimism among U.S. households. Short-term inflation expectations jumped to 5%, while five-year projections edged up to 4.1%—fueling concerns about sticky inflation.
“This month’s decline reflects a clear consensus across all demographic and political affiliations,” the report stated, underscoring the broad-based anxiety across the U.S. economy.
UK Macro Data Surprises to the Upside
On the UK side, economic data offered a more positive tone. While February Retail Sales declined compared to January, the 1.0% MoM increase came in well above economist expectations of a 0.3% decline.
Additionally, the UK economy grew by 0.1% in Q4 2024, meeting forecasts from the Office for National Statistics (ONS).
This upbeat data helped push GBP/USD to an intraday high of 1.2967, although the pair later pared gains as investors absorbed the stronger U.S. inflation readings.
Conclusion
Despite pressure from U.S. inflation data and trade uncertainty, GBP/USD remains resilient—underpinned by solid UK data and fading Fed rate hike expectations. However, the path forward will be shaped by how markets react to Trump’s tariff policy, labor market reports, and the evolving macro landscape.
GBP/USD – Technical Analysis
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.
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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
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
GBP/USD Price Analysis – March 26, 2025
Daily Price Outlook
During the European trading session, the GBP/USD currency pair extended its losing streak, trading around 1.2908 and hitting an intra-day low of 1.2887.
The British Pound faced significant selling pressure following the release of the UK Consumer Price Index (CPI) report for February, which indicated a faster-than-expected decline in inflation.
On the data front, the headline CPI increased 2.8% year-over-year (YoY), falling short of market expectations of 2.9% and down from January’s 3.0% increase.
Core CPI, which excludes volatile items, rose by 3.5%, missing forecasts of 3.6% and declining from the previous release of 3.7%. On a monthly basis, headline CPI grew 0.4% after a -0.1% reading in January, falling short of the 0.5% estimate.
Therefore, the Bank of England (BoE) closely monitors UK service inflation, which remained steady at 5%. While the softer inflation figures reinforced market expectations for a BoE rate cut, sticky services inflation may prevent traders from fully pricing in a rate cut as soon as May.
UK Fiscal Policy and Political Developments Add to Pound Weakness
Moreover, market participants are preparing for more volatility in the British Pound as UK Chancellor Rachel Reeves is set to deliver the Spring Statement at 12:30 GMT.
She is expected to announce cuts in welfare spending and stick to her stance of not raising taxes. Instead, she plans to rely on foreign financing for funding investments.
In addition, Reeves is likely to reveal a £2.2 billion increase in defense spending, partly due to the ongoing geopolitical uncertainty caused by the Ukraine war, as reported by BBC News.
Therefore, the prospect of reduced fiscal spending could weigh on the Pound, as lower government expenditure may slow economic growth and keep inflation pressures subdued, reinforcing expectations of BoE monetary easing.
US Dollar Steadies Ahead of Key Inflation Data
Meanwhile, the GBP/USD pair faced additional downward pressure as the US Dollar stabilized despite uncertainty over potential tariffs by former President Donald Trump, set to be announced on April 2. The US Dollar Index (DXY) edged higher to 104.40, reflecting cautious sentiment in global markets.
Trump has reiterated his threats to impose tariffs but suggested that several countries may receive exemptions.
While traders speculate on the potential impact on US economic growth, the move could lead to renewed inflationary pressures, complicating the Federal Reserve’s policy outlook.
Looking ahead, investors focus on the US Personal Consumption Expenditures (PCE) Price Index for February, scheduled for release on Friday.
Meanwhile, the Fed’s preferred inflation measure, the core PCE index, is expected to rise 2.7% year-over-year, slightly above the previous reading of 2.6%.
According to the CME FedWatch tool, the Fed is widely expected to maintain its current interest rate range of 4.25%-4.50% in May, but markets are pricing in a 65% probability of a rate cut in June.
Therefore, the combination of softer UK inflation, cautious fiscal policy expectations, and steady US dollar performance is likely to keep GBP/USD under pressure in the near term as traders assess the BoE and Fed’s monetary policy paths.
GBP/USD – Technical Analysis
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.
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GBP/USD Price Analysis – March 24, 2025
Daily Price Outlook
During the European trading session, the GBP/USD currency pair maintained its upward trend and remained well-bid around 1.2961, hitting the intra-day high of 1.2975.
The reason for this upward movement can be linked to a softer US Dollar, which is under pressure due to growing concerns over the potential US economic slowdown.
Additionally, uncertainty surrounding President Trump's impending trade policies, particularly his aggressive stance on tariffs, has added to the bearish sentiment around the Greenback.
GBP/USD Supported by Mixed UK PMI Data Amid Manufacturing Weakness and Services Strength
On the other hand, the gain in the GBP/USD pair was further bolstered by the mixed UK PMI data. The latest report showed a disappointing drop in the UK’s Manufacturing PMI for March, falling to 44.6 from February's 46.9, which was below the expected 47.3. This weaker manufacturing data raised concerns about the overall health of the UK economy.
However, the negative impact from the manufacturing sector was offset by stronger-than-expected data from the UK Services PMI, which surged to 53.2 in March, well above February's 51 and the forecast of 51.2.
The contrast between the weak manufacturing data and strong services sector performance helped to support the Pound, keeping the GBP/USD pair steady around 1.2950.
US Dollar Under Pressure Amid Trade Policy Concerns and Economic Data Release
On the US front, the broad-based US Dollar is facing growing pressure due to concerns over President Trump's trade policies. Trump has announced April 2 as "Liberation Day," a date when he plans to implement reciprocal tariffs on trade partners in industries like automobiles, pharmaceuticals, and semiconductors.
While these tariffs are aimed at addressing trade imbalances, analysts are worried they could push the US economy into a recession, which would weaken the US Dollar.
Additionally, the market is closely awaiting the release of the US S&P Global Manufacturing PMI later today. This data is expected to provide further insight into the health of the US economy.
A disappointing reading could add more pressure on the Greenback, potentially benefiting the GBP as investors seek safer or more stable assets.
BoE Maintains Cautious Outlook as Investors Await Key UK Economic Data
Apart from this, the Bank of England (BoE) has kept its cautious outlook by leaving interest rates unchanged at 4.5%.
Governor Andrew Bailey highlighted the ongoing uncertainty in the economy and mentioned that the central bank is considering a gradual rate-cut path in the coming years.
Analysts predict the BoE will lower rates by 100 basis points, bringing the terminal rate to 3.5% by early 2026.
Despite this dovish stance, the BoE's decision hasn't had a major negative impact on the Pound. Investors are focusing more on upcoming UK economic data, particularly February’s Consumer Price Index (CPI) inflation report, which is set to be released on Wednesday.
This data could provide clearer insights into the UK economy and influence future decisions from the BoE.
GBP/USD – Technical Analysis
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.
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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