UOB analysts warn of further downside for GBP/USD after the pair fell to 1.3183, targeting 1.3160 support.
GBP/USD slipped to 1.3183, with UOB analysts Quek Ser Leang and Lee Sue Ann maintaining a bearish stance as downside momentum builds. The pair faces immediate pressure at the 1.3160 support level, a key technical threshold for traders.
Resistance is positioned higher, though the focus remains on potential further declines. The pair’s recent weakness follows broader USD strength and shifting market expectations for monetary policy divergence between the Bank of England and the Federal Reserve.
No immediate market reaction was specified, but traders are closely monitoring the 1.3160 level for signs of a breakdown or reversal.