Analysts see potential for the British pound to retest 1.3435 against the US dollar after a recent surge to 1.3434.
The British pound has extended its rally against the US dollar, reaching 1.3434, a level that analysts describe as stretched but not yet exhausted. Further gains toward a retest of 1.3435 remain possible, though a move to 1.3465 is considered unlikely in the near term.
Recent price action follows a period of consolidation, with the pair trading within a higher band. The current momentum suggests a bullish bias, though short-term conditions may limit immediate upside. No significant resistance levels have been breached beyond 1.3434.
Market participants are monitoring the pair for signs of sustained strength, with attention on whether the pound can hold above key technical levels.