UOB economists caution against GBP/USD downside risks after a brief drop below 1.3490, forecasting consolidation near-term.
The British Pound remains under pressure against the US Dollar as UOB economists highlight lingering downside risks. GBP/USD briefly fell to 1.3485 before rebounding, but momentum suggests further weakness.
Analysts expect the pair to consolidate between 1.3500 and 1.3560 over the next day, with downside risks prevailing. The recent dip below 1.3490 marks a key technical level, reinforcing caution among traders.
No immediate market reaction was specified, but the cautious outlook may weigh on sentiment in near-term trading.