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

Daily Price Outlook

The GBP/USD pair successfully breached the 1.2870 level and established a solid support base above it, reinforcing the belief in a continued bullish trend. The next target levels are anticipated at 1.2935, followed by 1.3010.

However, it's worth noting that some technical indicators are showing negative signals, which may temporarily slow down the expected bullish movement. Traders are awaiting positive momentum that could assist in pushing the price towards the projected targets.

In this context, breaking below the support levels at 1.2870 and 1.2805 could halt the anticipated rise and potentially lead to additional bearish correction over the longer-term.

The expected trading range for today is between the support level of 1.2820 and the resistance level of 1.2980.

GBP/USD - Trade ideas

Entry Price – Buy Above 1.28467

Take Profit – 1.30493

Stop Loss – 1.27461

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$202/ -$100

Profit & Loss Per Micro Lot = +$20/ -$10