Home›Forex›Major Pairs›GBP/USD upside stays intact as long as 1.3605 holds

GBP/USD upside stays intact as long as 1.3605 holds

UOB analysts say the near-term view has cooled after GBP slipped below an intraday 1.3630 to 1.3665 range, but 1.3700 remains attainable if the pair does not break 1.3605.

Reported · Written up by our desk · Major Pairs

FXStreet reports that United Overseas Bank analysts Quek Ser Leang and Lee Sue Ann kept a positive 1 to 3 week outlook for GBP/USD, saying 1.3700 remains in sight as long as the pair holds above 1.3605.

They noted the near-term tone has softened, with spot falling below the bank’s expected intraday range of 1.3630 to 1.3665, while adding that the broader upside case stays valid unless support at 1.3605 gives way.

The pair traded within a narrower range than expected, between 1.3623 and 1.3655, and closed modestly higher at 1.3650, up 0.15% according to the analysts.

In their view, a break below 1.3605 would mean the 1.3700 target is out of reach, FXStreet also points out that U.S. Personal Consumption Expenditures data could provide fresh impetus for GBP/USD.

Latest closeGBP/USD 1.354 ▲0.3%

More like this

Sources