GBP/USD: Targeting 1.2837 on Intraday Bounce

The Setup

GBP/USD currently sits at 1.26865, holding up after a 0.29% move today. The market's been choppy, range-bound between 1.26318 and 1.27412. I’m seeing a solid play developing from this consolidation. We dipped near the 1.265 support, but the bounce is strong. Simple is best – this looks like a move higher.

The Trade

My intraday long entry is at 1.2673. We’re pushing off that critical 1.2632 zone. Looking for a sustained move through 1.2741 resistance, potentially fueled by some soft USD sentiment. My stop loss is tight at 1.2607, just below key structural support. The target? A firm push to 1.2837. Let it play out.