GBP/USD: Long Bias. Simple Is Best.

Current Read

Cable is grinding sideways, currently at 1.26278. Day range between 1.25944 and 1.26611. Support at 1.2594 is holding, suggesting buyers are stepping in at these levels. This consolidation looks ready to break.

The Trade

I'm taking a long entry on GBP/USD at 1.262. This is a textbook bounce play off the 1.26 support zone. While we're sideways now, I anticipate a move higher after this consolidation. The trend is your friend, and I see potential for a new push.
My Take Profit is set at 1.272, clearing the 1.2661 and 1.27 resistance levels. Stop Loss is tight at 1.258. Keep an eye on overall USD sentiment – any weakness will fuel this. Let it play out.