GBP/USD Consolidates Near 1.3450, Upside Scope Limited – UOB
Sterling traded quietly after failing to hold above 1.35, with UOB analysts seeing consolidation in a 1.3425–1.3470 range and limited near-term upside against the dollar.
The British pound settled into a narrow range against the U.S. dollar on Monday, following an earlier spike to 1.3506 that faded quickly. According to UOB analysts Quek Ser Leang and Lee Sue Ann, GBP/USD moved between 1.3423 and 1.3456 as the session progressed.
The bank’s note indicates that the pair is likely to consolidate in the near term, with resistance around 1.3470 capping any further gains. With upward momentum easing after the failed breakout, the outlook tilts toward sideways trading.
Key levels to watch are support at 1.3425 and resistance at 1.3470. A break below the lower bound could open the door to 1.3390, while a move above 1.3470 would give bulls a fresh foothold.
Source: FXStreet Forex News