Daily Trade Ideas

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

By LHFX Technical Analysis
Sep 25, 20231 min
Gbpusd

Daily Price Outlook

    The GBP/USD pair exhibits an intensified bearish momentum, methodically nearing our anticipated target of 1.2200. We anticipate this downward trajectory to persist, with subsequent objectives set around the 1.2135 mark.

    The EMA50 consistently underpins the projected bearish trend, which unfolds systematically within the bearish channel depicted on the chart. It's imperative to note that surpassing 1.2310 would negate this bearish outlook, prompting the pair to undergo an intraday bullish realignment.

    For today, the projected trading parameters are established between a support at 1.2150 and a resistance at 1.2300.

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

    GBP/USD - Trade Idea 

    Entry Price – Sell Below 1.22581

    Take Profit – 1.21951

    Stop Loss – 1.22876

    Risk to Reward – 1: 2

    Profit & Loss Per Standard Lot = +$630/ -$295

    Profit & Loss Per Micro Lot = +$63/ -$29

    Please click here to read and acknowledge our Trade Ideas Disclaimer before using these ideas in your strategies and trading. This document’s information, including forex signals and research, is for general informational and educational purposes only and does not provide specific financial, investment, or trading advice.

    GBP/USD

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