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

Daily Price Outlook

- Price trades within rising channel and holds above 50 SMA.

- RSI shows early bullish signs; higher lows remain intact.

- Break above $1.3411 may accelerate momentum toward $1.34385.

GBP/USD is climbing within a well-defined ascending channel, currently supported by the lower trendline near $1.3380. Price is hovering just above the 50 SMA ($1.3392), which has recently acted as dynamic support.

A successful bounce here could fuel further upside toward the mid-channel level around $1.3438, aligned with recent price structure.

The candlestick formation shows a clear series of higher lows, reflecting sustained buying interest. After a brief consolidation, bullish momentum may resume if price holds above $1.3380.

The RSI is at 49.71, marginally below neutral but attempting to cross its signal line, suggesting a potential recovery in momentum.

No classic reversal patterns like engulfing or three white soldiers are present, but the structure supports gradual upside.

A break below $1.3358 would invalidate the setup and expose downside risk toward $1.3348 and $1.3315. Until then, bulls remain in control within the channel framework.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.33808

Take Profit – 1.34385

Stop Loss – 1.33585

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$577/ -$223

Profit & Loss Per Mini Lot = +$57/ -$22