UOB’s Quek Ser Leang notes a slight pickup in GBP/USD upward momentum after a swing between 1.3213 and 1.3277, with a retest of 1.3275 possible but further gains seen limited.
On a 1–3 week horizon, the bank turned positive, expecting further rebound while uncertain if 1.3355 can be reached, as long as support at 1.3180 holds
Longer term, range-trading is anticipated. Pound-Dollar upside constrained by 1.3355 “24-HOUR VIEW: GBP rose to a high of 1.3262 two days ago. When it was at 1.3255 in the early Asian session yesterday, we highlighted the following: “There is scope for GBP to rise further and test 1.3280.
A sustained break above this level appears unlikely. The major resistance at 1.3355 is not expected to come into view. Supports are at 1.3230 and 1.3210.” GBP subsequently dipped to 1.3213, rose sharply to 1.3277, and then eased to close largely unchanged at 1.3264 (+0.03%).