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      GBP/USD push higher on dollar softness and renewed pound demand

      Forex
      Summary:

      GBP/USD is trading around 1.3350–1.3345, supported by a broad dollar weakening trend and strength in GBP from positive UK data. The pair is showing bullish structure on higher timeframes and early signs of bullish momentum...

      Buy GBPUSD
      End Time
      CLOSED

      1.33482

      ENTRY

      1.33850

      TGT

      1.33150

      SL

      -- -- --

      368

      Points

      Profit

      1.33150

      SL

      1.33852

      CLOSING

      1.33482

      ENTRY

      1.33850

      TGT

      Overview

      On 4 December, GBP/USD continues to benefit from a softer USD. The weak‐dollar environment is reinforced by growing expectations that the Federal Reserve will cut rates soon, which reduces USD yield appeal and pushes money toward higher-yield or more stable‐currency alternatives like GBP. At the same time, GBP is supported by improved market sentiment toward UK assets after recently strong business activity data and a stable macro backdrop in the UK. As a result, GBP/USD has recovered from earlier dips and is now hovering near the upper end of recent ranges around 1.3345–1.3355. This context provides a reasonable fundamental backing for a bullish stance, rather than relying purely on technical bounce. 

      Market sentiment

      Investor sentiment today appears to favor currencies other than USD, as dollar‐denominated assets lose support amid rate-cut expectations and uncertainty about US economic strength. Meanwhile, GBP benefits from a mixture of safe-haven rotation away from USD and renewed interest in sterling-denominated assets, given stable UK economic signals and less aggressive near-term rate-cut expectations for the Bank of England relative to peers. Market flows so far have shown buyers stepping in on dips notably around 1.3300–1.3320 which suggests confidence that GBP/USD may re-test recent highs, rather than collapse under volatility. 

      Technical analysis

      GBP/USD push higher on dollar softness and renewed pound demand_1
      On the M15 chart, GBP/USD has broken above the mid-band of the Bollinger channel and is now approaching the upper band, indicating short-term bullish momentum and potential for further upside. The expansion of the Bollinger bands suggests increasing volatility and room for price movement upward. Ichimoku (9,26,52) confirms the bullish tilt: price is well above both Tenkan-sen and Kijun-sen, both pointing upward; the Kumo ahead is rising and widening, signaling structural bullishness. This combination usually suggests that upward moves have strength and may continue. The Stochastic (5,3,3) recently crossed bullish from lower/mid area, supporting a continuation upward rather than representing an overbought reversal right now. The confluence of these three indicators on M15 suggests that GBP/USD has a decent chance to push toward near-term resistance again.

      Trade idea

      Entry: 1.3345 BUY GBP/USD 
      Take Profit: 1.3385 
      Stop Loss: 1.3315 
      Risk Warnings and Investment Disclaimers
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      Rank

      6

      Articless

      203

      Win Rate

      51.65%

      P/L Ratio

      1.25

      Focus on

      EURUSD, XAUUSD

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