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fxAug 4, 2026, 7:17 AM

GBP/USD Pullback Likely Within 1.3400-1.3475 Range, UOB Says

UOB strategist Quek Ser Leang notes the pound's retreat from 1.3506 should be contained in a 1.3400-1.3475 band, after an overbought spike.

GBPUSD

GBP/USD spiked to 1.3506 before an overbought reversal pushed it lower, closing at 1.3434, according to UOB strategist Quek Ser Leang.

The pullback is expected to persist, but price action is likely to be confined between support at 1.3400 and resistance at 1.3475.

A clear break below 1.3400 would signal a more significant downside shift, while the 1.3475 level serves as immediate resistance.

Source: FXStreet Forex News