British Pound: Upward momentum targets 1.3700 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang reports GBP/USD at 1.3640 remains supported after breaking key resistance levels, with intraday gains likely capped between 1.3605 and 1.3670.
United Overseas Bank (UOB) analyst Quek Ser Leang predicts the British Pound (GBP) will maintain upward momentum, potentially reaching 1.3700 against the US Dollar (USD). Currently trading at 1.3640, GBP/USD remains supported after breaking key resistance levels, with intraday gains anticipated between 1.3605 and 1.3670. Over the next 1-3 weeks, the Pound is expected to continue rising toward 1.3700, provided it stays above 1.3570, while longer-term signals still indicate range trading.
Despite the sharp rise, analysts warn that GBP may consolidate between 1.3570 and 1.3630 due to overbought conditions. Further GBP strength is possible, but a breakthrough above 1.3670 would likely cap the advance within the 1.3605/1.3670 range.
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