British Pound: Risk of test of 1.3140 against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann report that GBP/USD extended its sharp decline to 1.3205, leaving conditions deeply oversold but with the bias still pointing lower.
UK bank UOB warns of a potential test of 1.3140 against the US Dollar for the British Pound, as the GBP/USD exchange rate continues its steep decline. The current 24-hour low of 1.3205 is deeply oversold, but the overall bias remains bearish. Traders should keep an eye on resistance levels at 1.3245 and 1.3295, which could signal fading downside risks. If the British Pound breaks below 1.3140, it may indicate that further downside is unlikely.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
