British Pound: Upside capped near 1.3555 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note GBP/USD briefly traded above 1.3535 to 1.3540 before slipping back to close at 1.3496. Intraday, the pair is seen range-trading between 1.3475 and 1.3525.
UOB analysts suggest the British Pound's upside is limited near 1.3555 against the US Dollar. Briefly, GBP/USD reached 1.3535 to 1.3540 before falling back to close at 1.3496. Intraday trading sees the pair fluctuating between 1.3475 and 1.3525. Over the next 1-3 weeks, they maintain a slightly positive outlook but doubt GBP can surpass 1.3555.
While there's a chance for GBP to increase further, sustained gains beyond 1.3555 appear unlikely. Early NY session saw GBP briefly climb above 1.3535, peaking at 1.3540 before dropping to 1.3488, and ultimately closing at 1.3496, down 0.09%. The current movement seems part of a range-trading phase, most likely between 1.3475 and 1.3525.
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