GBP/USD trades with modest gains below the mid-1.2600

The GBP/USD pair has regained its upward momentum, breaking above the 1.2650 mark for the first time in a week on Thursday. While it experienced a slight loss of traction towards the end of the previous day, it encountered no significant difficulty in stabilizing above the 1.2600 level. The short-term technical outlook has yet to signal a building bullish momentum, and buyers might remain hesitant unless the pair breaches the resistance zone between 1.2650 and 1.2660.

It is anticipated that the price will continue its recovery following the recent correction, reaching the lower boundary of the ascending channel and retesting the 34 and 89 EMAs.