UOB: GBP/USD Overbought, Eyes 1.3410 but Pullback Risk Limited

United Overseas Bank (UOB) analyst Quek Ser Leang commented on the British pound's recent rally against the US dollar, stating that the overbought conditions still have room to extend toward 1.3410.

While the pair remains elevated after last week's sharp rise, Leang sees limited downside risk for the session. Any pullback is expected to be confined to the 1.3320–1.3375 intraday range, with a clear break below support appearing unlikely.

Traders should watch for further upside momentum as long as the pound holds above the 1.3320 level. The 1.3410 target remains in focus as the next key resistance.