British Pound: Uptrend intact toward 1.3600 cap against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang notes GBP/USD invalidated a recent neutral call by breaking above 1.3555 and closing higher near 1.3532. Intraday, the British Pound (GBP) may extend toward 1.3570, with 1.3600 as firm resistance.
UOB analyst Quek Ser Leang observes that the GBP/USD pair has invalidated a recent neutral outlook by surpassing 1.3555 and nearing 1.3532. The British Pound may continue its ascent toward 1.3570 intraday, with 1.3600 acting as strong resistance in the coming 1–3 weeks. The upside momentum is expected to stall near 1.3600. Initially expecting GBP to trade between 1.3475 and 1.3515 last Friday, the forecast proved inaccurate as the pair soared to 1.3561 before retracting to close at 1.3532, marking a 0.33% increase.
While momentum has diminished, GBP could potentially surge further towards 1.3570. For sustained upward movement, GBP must stay above 1.3510, with minor support at 1.3525.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
