British Pound: Upside scope toward 1.3440 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann keep a constructive stance on GBP/USD, noting recent price action remains range-bound but within an overall positive bias.
UOB analysts Quek Ser Leang and Lee Sue Ann maintain a bullish outlook on GBP/USD, noting the pair has been trading within a narrow range between 1.3355 and 1.3400. In the short term, they see potential for gains towards 1.3440, provided the price holds above the 1.3340 support level. Currently, GBP/USD is trading in a range-trading phase, likely between 1.3355 and 1.3400.
Since the middle of the month, UOB has been holding a positive view on GBP, anticipating it to reach 1.3440. Although the pair has risen to a high of 1.3418, it has not been able to capitalize on the upside. A breach of the 1.3340 support level would prevent 1.3440 from becoming achievable.
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