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GBP/USD slips after failing to hold above 1.3286
UOB expects GBP/USD to consolidate in a lower 1.3180 to 1.3235 intraday range, with downside risk seen contained above 1.3140 over the next one to three weeks.
UOB strategists Quek Ser Leang and Lee Sue Ann said GBP/USD failed to extend gains above 1.3286 and instead retreated to 1.3194, closing at 1.3213.
According to the strategists, short-term momentum has turned mildly negative, with the pair expected to trade within a lower 1.3180 to 1.3235 intraday band.
Looking ahead one to three weeks, UOB sees downside risk contained above 1.3140 within a broader 1.3140 to 1.3280 range.
Latest closeGBP/USD 1.321 ▼0.2%
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