GBP/USD Strategy - U.S. PCE Below Expectations, Non-U.S. Currencies Short-Term Appreciation

Fundamental Analysis:

Last Friday's U.S. November PCE data came in lower than expected, easing market concerns about the Fed's rate policy outlook. This paused the rise in U.S. Treasury yields and the dollar, providing room for a rebound in non-U.S. currencies. As a result, short-term long positions in non-U.S. currencies may be considered. However, several Federal Reserve officials delivered hawkish remarks, indicating that the outlook for rate cuts next year remains bleak. Thus, the rebound of non-U.S. currencies may be limited.

Technical Analysis:

The 15-minute chart shows higher highs and lows, indicating a bullish trend. Two batches of funds can be used for a low-entry long strategy. If the price breaks below the previous low, stop-loss measures should be applied. Take-profit targets can be set at extended levels of the price increase.

Trading Recommendation:

Enter GBP/USD long positions at 1.25844 and 1.25664. Set a stop-loss at 1.25372, with a target at 1.26316.

Support Level: 1.25372 Resistance Level: 1.26316

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