GBP/USD Consolidates Below Resistance as Bullish Momentum Stabilizes

GBP/USD is consolidating within a bullish structure just below a key resistance zone, with momentum indicators showing stabilization after the pair's recent advance. The technical picture suggests buyers remain in control of the broader trend, though the pair has encountered selling pressure near overhead resistance, leading to a period of range-bound trading. The consolidation phase reflects market participants awaiting fresh catalysts, including upcoming US economic data and Bank of England commentary on the UK growth outlook. Support has formed at recent swing lows, providing a floor for pullbacks, while a decisive break above the current resistance zone could open the door to further upside. Volume has tapered during the consolidation, typical of a pause within a trending move. Traders should monitor for a breakout or rejection at resistance to confirm the next directional move. The pair remains sensitive to USD-side developments, particularly after the strong US jobs report, which may cap GBP/USD gains in the near term.