GBP/USD Forecast: Market Consolidation as Bulls Hold Steady

After posting gains on Wednesday, the GBP/USD pair is currently experiencing consolidation around 1.2950. The market fluctuates within a tight range, indicating a wait-and-see approach from traders.

The near-term technical outlook remains cautiously optimistic, lacking strong indicators for a bearish reversal. As the GBP continues to hold its position, traders should be prepared for potential breakouts in either direction.

Continued monitoring of key support and resistance levels will be crucial for establishing trading strategies. Bulls appear resilient, but market sentiment can shift rapidly depending on economic developments.