FxWirePro: GBP/USD rebounds as bulls take charge

• GBP/USD rose on Monday as gains were driven by optimism that the Bank of England will adopt a measured approach to rate cuts in 2026.

•The Bank of England, which cut rates by a quarter point last month, is expected to deliver at least one more rate cut this year, with a strong possibility of a second by year-end, according to money markets.

•British consumer borrowing rose by the most in two years in November, Bank of England data showed on Monday, suggesting household demand remained solid ahead of finance minister Rachel Reeves' budget.

•Consumer borrowing grew by a net 2.08 billion pounds ($2.79 billion) during the month,the most since November 2023 and more than any forecast in a  poll of economists.

• Technical signals are  strongly bullish as RSI is   at 67, daily momentum studies  5, 9 and 10 DMAs are trending up.

•   Immediate resistance is located at 1.3562( 38.2%fib), any close above will push the pair towards 1.35960 (Higher BB)

•  Strong support is seen at 1.3442(38.2%  fib) and break below could take the pair towards 1.3415 (SMA 20).

  Recommendation: Good to buy around 1.3520 with stop loss of 1.3430  and target price of 1.3590