UOB strategists see GBP/USD stabilizing between 1.3450 and 1.3520 after a 0.43% drop, with upward momentum still intact.
GBP/USD steadied after retreating 0.43% to close at 1.3480, following a sharp pullback from near 1.3556. United Overseas Bank strategists note the pair is likely to consolidate between 1.3450 and 1.3520 intraday, with a break below 1.3450 signaling potential consolidation before further gains.
The 1-3 week outlook remains bullish, with 1.3590 identified as a key resistance level. Earlier momentum suggested a resumption of the uptrend, though the recent pullback to 1.3460 has eased upward pressure. Support at 1.3450 remains critical for maintaining near-term bullish sentiment.