GBP/USD Long: Range Play Targeting 1.2693

Current Landscape

GBP/USD is grinding sideways, currently at 1.26362. We're seeing it hold within its day range of 1.26154 — 1.26569. Lack of fresh fundamental catalysts means the pair is stuck, but that just means range-bound technicals are in play. The trend is your friend, even when it's flat.

The Play

Looking for a bounce here. I'm taking a long setup with entry at 1.2631. My stop loss is tight at 1.2606, just below the 1.2615 support level. This move anticipates a push back towards the higher end of the range.

Target

Targeting 1.2693. This aims for a solid move past current resistance at 1.2657. It's an intraday play, pure technical. Watching closely for price action around the entry.