Daily Price Outlook

- GBP/USD trading at $1.27182, down 0.20%, with a cautious short-term outlook.

- Immediate resistance at $1.27652, immediate support at $1.26811.

- RSI at 45 and 50 EMA at $1.27337 indicate a slightly bearish trend.

GBP/USD is currently trading at $1.27182, down 0.20% in the 4-hour timeframe. The technical outlook for GBP/USD indicates it is trading just below the pivot point of $1.27258, suggesting a cautious market sentiment and potential further decline.

Immediate resistance is identified at $1.27652, with subsequent resistance levels at $1.27932 and $1.28217. On the support side, immediate support is at $1.26811, followed by $1.26483 and $1.26211, marking potential areas for buying interest.

The Relative Strength Index (RSI) is at 45, indicating that the market is neither overbought nor oversold, but leaning towards a neutral to slightly bearish sentiment. The 50-day Exponential Moving Average (EMA) is positioned at $1.27337, just above the current price, reinforcing a bearish short-term outlook.

Given the technical indicators and current market dynamics, the strategy for traders is to consider selling below $1.27247, with a take profit target set at $1.26800 and a stop loss at $1.27678.

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

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.27247

Take Profit – 1.26800

Stop Loss – 1.27678

Risk to Reward – 1: 1

Profit & Loss Per Standard Lot = +$447/ -$431

Profit & Loss Per Mini Lot = +$44/ -$43



24/7 live support, lightning fast withdrawals, guaranteed safe and reliable trading platforms with a true ECN broker.