United Overseas Bank analysts forecast GBP/USD could rise to 1.3700 unless support at 1.3585 breaks.
GBP/USD remains in a short-term consolidation phase, trading between 1.3620 and 1.3665 after peaking at 1.3675. Analysts note overbought conditions but see potential for further gains if the pair holds above strong support at 1.3585.
The bank turned bullish on GBP last week, targeting 1.3700 as long as the pair stays above 1.3585. Prior resistance at 1.3670 was tested but not breached, reinforcing the range-bound outlook in the near term.
Longer-term signals still favor broader range trading, though the medium-term bias remains upward. Immediate focus is on sustaining levels above 1.3585 to validate the 1.3700 target.