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

Daily Price Outlook

- GBP/USD is maintaining a rising trendline, reinforcing bullish sentiment.

- RSI remains supportive of further gains, with no immediate overbought signals.

- A break above $1.3385 could open the door to $1.3413 and $1.3442.

GBP/USD is trading near $1.3351, maintaining its recent upward momentum within a rising trendline that has supported the pair since early May.

The 50-day Simple Moving Average (SMA) at $1.3324 is providing critical dynamic support, aligning closely with the recent swing low, reinforcing the short-term bullish bias. The pair's steady climb is characterized by a series of higher lows, indicating sustained buying interest.

The recent pullback found support around the $1.3324 level, coinciding with the trendline and the 50-SMA, confirming this as a key pivot zone.

A break above the immediate resistance at $1.3385 could trigger further gains toward the next significant resistance at $1.3413, a level that aligns with a previous consolidation area. Beyond this, the $1.3442 mark represents a major swing high, acting as the next key target for bulls.

The Relative Strength Index (RSI) is currently at 55.86, suggesting mild bullish momentum with room for further upside before hitting overbought levels.

However, a break below the trendline and the $1.3324 support could expose the pair to a deeper correction, potentially targeting the next support at $1.3309, followed by the $1.3258 level.

Entry Price – Buy Above 1.33344

Take Profit – 1.33849

Stop Loss – 1.33099

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$505/ -$245

Profit & Loss Per Mini Lot = +$50/ -$24