British Pound: Upside bias toward 1.3700 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann describe GBP/USD price action as range-bound intraday between 1.3615 and 1.3660, with momentum indicators neutral.
UOB analysts Quek Ser Leang and Lee Sue Ann see GBP/USD price action as range-bound, trading between 1.3615 and 1.3660 intraday. Their momentum indicators are currently neutral. However, they remain optimistic about the pair's outlook in the coming weeks, predicting a move toward 1.3700 while maintaining strong support at 1.3585.
A drop below the latter level would disprove their bullish scenario. Over the past 24 hours, GBP closed at 1.3644, after trading between 1.3621 and 1.3656. No significant shift in momentum has been observed, and GBP is likely to continue fluctuating within the aforementioned range. Analysts expect GBP to potentially reach 1.3700 within the next three weeks, but a break below 1.3585 would invalidate this bullish projection.
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