UOB analysts see limited upside for the pound, with near-term resistance at 1.3555 and support at 1.3410.
The British pound traded at 1.3469 against the US dollar after briefly touching 1.3486, reflecting modest gains but constrained momentum. UOB analysts note the pair is likely to consolidate within a 1.3445–1.3495 range rather than extend its rally.
Recent price action shows the pound struggling to break above the 1.3555 resistance level, a key barrier highlighted in earlier reports. Support has been revised upward to 1.3410 from 1.3385, though the probability of a sustained move higher remains low.
Over the next one to three weeks, the pound may test 1.3555 if support holds, but analysts caution against expecting a strong breakout without further catalysts.