GBP/USD fails to test key support, holds range – UOB
UOB analysts note GBP/USD failed to test the major support at 1.3110, rebounding from 1.3152 to 1.3218 before closing in a range-bound pattern.
GBPUSD
United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann report that the British pound remains in a range trade against the US dollar. The pair failed to challenge the key support level at 1.3110, instead bouncing from 1.3152 to a high of 1.3218 before settling.
The analysts highlight that the inability to break below major support reinforces the current range-bound outlook for GBP/USD. No breakout signals are evident, suggesting continued consolidation in the near term.
Source: FXStreet Forex News