GBP/USD Eyes 1.2750 as Bullish Momentum Remains Intact

GBP/USD maintains its upward trajectory, trading at 1.2680 with a 0.2% intraday gain as technical momentum indicators remain firmly bullish. The pair has broken above the key 1.2650 resistance level, opening the path toward 1.2750, which represents the December 2023 high. The Relative Strength Index (RSI) sits at 65, indicating strong momentum without being overbought, while the 50-day moving average at 1.2580 provides solid support. Daily MACD continues to show positive divergence, reinforcing the bullish outlook. Market positioning data reveals net long positions in sterling have increased by 15% over the past week, reflecting growing confidence in the pound's strength. Immediate resistance lies at 1.2720, followed by the psychological 1.2750 level. A sustained break above 1.2750 could accelerate gains toward 1.2800, though traders should watch for any deterioration in risk sentiment that could trigger profit-taking.