UOB analysts see the pound trading between 1.3160 and 1.3220 near term but warn of downside risk unless resistance at 1.3245 breaks.
The British pound held steady against the US dollar, rebounding from a low of 1.3152 to close at 1.3190 after failing to test key support at 1.3110. UOB analysts noted no shift in momentum, describing recent moves as part of a range-trading phase.
Short-term expectations remain for GBP/USD to trade between 1.3160 and 1.3220, though the bank maintains a bias toward further downside. A drop toward 1.3110 remains possible unless the pair breaks above resistance at 1.3245, which would signal stabilization.
The pound’s recent fluctuations reflect broader market uncertainty, with no clear directional trend emerging in the near term.