UOB analysts shift GBP/USD outlook to neutral, forecasting a trading range between 1.3320 and 1.3445 after recent declines.
GBP/USD fell to 1.3343 before closing at 1.3346 as the US Dollar strengthened, cooling short-term momentum. Analysts now expect Sterling to trade within a range of 1.3320 to 1.3445, marking a shift from a previously positive outlook to neutral.
The pair had closed at 1.3402 last Friday but gapped lower at the open, breaking below key support levels. While downward momentum has not accelerated significantly, a dip toward 1.3320 is possible, though a clear break below that level remains unlikely.
Resistance is seen at 1.3375 and 1.3390, with analysts maintaining a neutral stance unless GBP/USD breaches the 1.3320 support.