GBP/USD Bullish Setup: Buyers Show Strong Interest

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Analysis:
The Cable (GBP/USD) on the hourly chart has demonstrated impressive strength to the upside recently. However, on Friday, we observed a trend-changing pullback, with price retreating from a high of 1.2502 to a low of 1.2426.

Following this, the price broke the previous high again before creating a momentum low at 1.2414 earlier today.

On the 5-minute chart, a bullish setup has now formed following the momentum low. This suggests that buyers remain engaged, and we could see a bullish move back towards the 1.2499 level or potentially the high of 1.2524.

Entry Price: 1.2447 Long Entry
Stop Loss: 1.2412

Happy trading!

Penafian

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