British Pound: Gains capped below 1.3555 against US Dollar - UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report GBP/USD edged higher to 1.3469 after briefly touching 1.3486, with short-term momentum only slightly firmer. The pair is expected to trade in a higher 1.3445–1.3495 range rather than embark on a strong rally.
British Pound (GBP) remained relatively strong against the US Dollar (USD) as of August 5, with the pair touching 1.3486 before settling at 1.3469, according to United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann. Despite a slight rebound in short-term momentum, GBP is expected to trade within the 1.3445–1.3495 range rather than embark on a significant rally.
The analysts emphasize that strong momentum suggests further upside, but it remains uncertain whether GBP can break and hold above the significant resistance at 1.3555. While the support level at 1.3410 still holds, revising it from 1.3385, there is limited scope for GBP to move toward the 1.3555 mark within 1-3 weeks.
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