GBP/USD Bullish Momentum: Riding the Intraday Trend Higher

Market Outlook

GBP/USD is showing clear bullish momentum, up 0.35% in the last 24 hours, currently at 1.26942. The trend is firmly bullish, and you know what they say – the trend is your friend. Broader market sentiment seems to be favouring risk, keeping the Dollar under pressure. We've seen good support hold around the 1.2628 level.

The Trade

I'm looking at an intraday long setup here. Targeting a push towards the 1.28 handle and beyond, given the current strength.
* Entry: 1.2678
* Stop Loss: 1.2598 (just below the 1.26 psychological level)
* Take Profit: 1.2877 (aiming for a break past 1.28 resistance)

Watching Closely

The immediate resistance at 1.2761 will be the first test. A clean break there could see us pushing towards our target swiftly. Eyes on those levels for confirmation. We're riding the momentum, but always respect the market.