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

Daily Price Outlook

- GBP/USD breaks out from triangle pattern above $1.3306, targeting $1.3348.

- RSI above 50 signals emerging bullish strength; 50 EMA flattens upward.

- Candlestick confirmation with bullish engulfing pattern supports bullish continuation.

The GBP/USD pair is displaying early signs of bullish momentum after breaking above a key symmetrical triangle pattern.

The entry trigger near $1.3306 aligns with the breakout of a consolidation structure, suggesting a measured move toward the $1.3348 resistance zone. A bullish breakout from the triangle is often indicative of renewed trend continuation.

Technically, the 50-period EMA, currently at $1.3307, is flattening and attempting to turn higher, providing dynamic support beneath current prices.

The RSI reading at 54.10, edging above the 50 midline, confirms a strengthening bias without approaching overbought levels, leaving room for further upside.

Candle structures around the breakout reveal a mild bullish engulfing pattern followed by a spinning top, reflecting healthy consolidation post-breakout without signs of exhaustion.

No bearish divergence is detected on the RSI, reinforcing the likelihood of continued gains if immediate resistance is breached.

A move above $1.3348 could trigger additional buying, possibly exposing $1.3385 next. Conversely, failure to sustain above the breakout could see a pullback toward $1.3277, which remains key short-term support.

Pattern traders will note the “ABCD harmonic pattern” formation within the broader triangle structure, reinforcing the measured move thesis toward higher resistance levels.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.33060

Take Profit – 1.33478

Stop Loss – 1.32774

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$418/ -$286

Profit & Loss Per Mini Lot = +$41/ -$28