GBP/USD Momentum Builds on Broad Dollar Softness

GBP/USD is benefiting from the same dollar-negative momentum that has recently lifted other major pairs following the dovish tilt in FOMC minutes. Price action suggests bulls are testing resistance zones that have capped prior rallies, with follow-through buying contingent on confirmation from upcoming U.S. data.

The broader technical backdrop favors continuation as long as the dollar index remains under pressure. A decisive break above recent swing highs would open the door for extended upside, while failure to clear resistance could see cable retest nearby support as profit-taking emerges.

Momentum indicators are aligning with the bullish case for now, but traders should watch how price reacts around key technical zones once the PCE data lands, as volatility is likely to spike sharply in either direction.