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GBP/USD holds above key levels as focus shifts to 1.3600

UOB said GBP/USD may extend to 1.3570 in the near term, while gains are expected to stall near 1.3600.

Reported · Written up by our desk · Major Pairs

United Overseas Bank analyst Quek Ser Leang said GBP/USD invalidated a prior neutral view after breaking above 1.3555 and closing higher near 1.3532.

In a 24-hour outlook, UOB said sterling could extend toward 1.3570, with 1.3600 flagged as firm resistance, and it added that momentum would need GBP to hold above 1.3510.

For the next one to three weeks, UOB maintained an upside bias as long as GBP stays above 1.3495, while expectations were that advances would slow at the 1.3600 level.

UOB also noted that while a previous range call shifted to neutral on August 14, GBP's sharp move above 1.3555 suggests the upward bias remains intact, and it said only a breach of 1.3495 would indicate GBP is not ready to move toward 1.3600.

Latest closeGBP/USD 1.354 ▲0.3%

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