British Pound: Downside seen limited near 1.3465 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note GBP/USD extended its decline to 1.3475 before rebounding, closing at 1.3485. Intraday bias remains lower, but any weakness is seen limited to a test of 1.3465, with 1.3510 marking a shift back to range trading.
British Pound (GBP) has shown signs of weakening against the US Dollar (USD), with the pair trading near the 1.3465 level. UOB analysts Quek Ser Leang and Lee Sue Ann predict that any downside may be limited to testing this key support level before potentially rebounding. In the near term, GBP faces further downside risk towards 1.3415 while the broader 1.3210-1.3655 range remains dominant. On the upside, breaking above 1.3510 could signal a shift towards range trading rather than a sustained downtrend.
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