British Pound: Limited upside within defined band against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann highlight that GBP/USD closed marginally higher near 1.3510, with price action confined to a narrow 1.3493–1.3515 range. Intraday, they see scope for the Pound to edge higher but still capped within 1.3490–1.3535.
UOB analysts Quek Ser Leang and Lee Sue Ann have noted that the British Pound has experienced limited upside within a defined range against the US Dollar. On Monday, the GBP/USD pair closed near 1.3510, trading within a tight range of 1.3493–1.3515. In their opinion, the Pound is likely to maintain this range over the next 1–3 weeks, with the potential to test 1.3555.
However, a sustained rise above 1.3555 is considered unlikely. Despite the quiet price action, analysts remain optimistic, as there is a chance for the Pound to edge higher, but any advance is expected to stay within the 1.3490/1.3535 range.
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