Daily Price Outlook

    The GBP/USD currency pair has decisively breached the 1.2505 mark, evidenced by its recent daily close beneath this threshold. This move aligns with the bearish trajectory outlined within the analytical chart's bearish channel. Subsequent targets are delineated at 1.2400, extending further to 1.2310.

    Given this context, a bearish orientation is anticipated for today's trading session, bolstered by the negative influence exerted by the 50-day Exponential Moving Average (EMA50). However, it's crucial to note that any ascent past the 1.2505 level, if sustained, might negate the current bearish perspective, paving the way for potential recuperative actions. For today, the projected trading spectrum spans from a support boundary of 1.2390 to a resistance cap of 1.2540.

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

    GBP/USD - Trade Idea 

    Entry Price – Sell Limit 1.24796

    Take Profit – 1.24007

    Stop Loss – 1.25411

    Risk to Reward – 1: 1.2

    Profit & Loss Per Standard Lot = +$789/ -$615

    Profit & Loss Per Micro Lot = +$78/ -$61



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