United Overseas Bank forecasts GBP/USD rising toward 1.3700 in 1-3 weeks if support at 1.3570 holds.
GBP/USD traded at 1.3640 after breaking key resistance levels, with UOB analysts expecting further gains. Intraday movements are likely capped between 1.3605 and 1.3670, though a break above could target 1.3700 in the coming weeks.
The pair surged to 1.3661 earlier this week, exceeding prior resistance at 1.3600. Analysts initially expected consolidation but revised forecasts after the breakout, citing persistent upward momentum despite overbought conditions.
Longer-term signals suggest range trading, but near-term bias remains bullish if support at 1.3570 holds.