British Pound: Limited downside inside tight corridor against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note GBP/USD has extended its recent pullback but closed almost unchanged around 1.3595. Oversold conditions and slowing momentum suggest further immediate downside is limited, with intraday trade expected between 1.3570 and 1.3620.
UOB analysts Quek Ser Leang and Lee Sue Ann have observed that the British Pound has experienced a recent drop, but has since recovered to trade nearly unchanged at 1.3595 against the US Dollar. The analysts believe there is limited immediate downside, with GBP/USD expected to trade between 1.3570 and 1.3620 in the short term. Over a one to three week period, they anticipate only modest downside, with the pair likely remaining within a 1.3550–1.3645 range.
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