UOB analysts note GBP/USD failed to extend gains above 1.3442, signaling a neutral trading range between 1.3360 and 1.3440.
GBP/USD retreated from a late-month high of 1.3442 to close at 1.3387, stalling its advance. The pair’s inability to sustain momentum suggests a neutral near-term outlook, with support and resistance levels tightening around current levels.
Analysts had anticipated further upside after the pair breached key technical levels, but the pullback indicates waning bullish sentiment. Prior sessions saw GBP/USD test multi-week highs, though momentum faded ahead of resistance near 1.3450.
Intraday trading is expected to remain range-bound, with immediate support at 1.3360 and resistance at 1.3440. No significant market reaction was reported following the update.