GBP/USD Rally Fades, Risks Test Below 1.3360 – UOB
GBP/USD gapped lower after briefly breaking above 1.3445, with momentum turning down and risks of a test below 1.3360, though 1.3320 is seen as distant.
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According to UOB analysts Quek Ser Leang and Lee Sue Ann, the British pound's recent rally has faded into a range trade against the US dollar.
The pair gapped lower after a brief breach above 1.3445, with downside momentum increasing. The analysts see a risk of GBP/USD testing below 1.3360, although a move to 1.3320 is considered unlikely in the near term.
Source: FXStreet Forex News