Daily Price Outlook

    The GBP/USD pair demonstrated a robust upward surge in the previous session, finding support around the 1.2625 level and successfully reaching the anticipated bullish target at 1.2725. The pair has settled at this level, and our analysis suggests that surpassing this threshold during the morning trading session could pave the way for a continuation of the upward trajectory, aiming for levels around 1.2825 in the near-term perspective.

    Consequently, our outlook leans towards a further bullish sentiment in the forthcoming sessions, bolstered by the ascent above the EMA50. It's important to note that a failure to breach the 1.2725 level may halt the positive scenario, potentially triggering a bearish phase targeting the 1.2625 level initially.

    The projected trading range for today is expected to extend between the support at 1.2650 and the resistance at 1.2820.

    GBP/USD Price Chart – Source: Tradingview
    GBP/USD Price Chart – Source: Tradingview

    GBP/USD - Trade Idea

    Entry Price – Sell Below 1.27311

    Take Profit – 1.26731

    Stop Loss – 1.27665

    Risk to Reward – 1: 1.6

    Profit & Loss Per Standard Lot = +$580/ -$354

    Profit & Loss Per Micro Lot = +$58/ -$35



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