Analysts see limited upside for the pound against the dollar, with near-term resistance at 1.3555 and range-bound trading expected.
GBP/USD briefly touched 1.3540 before retreating to close at 1.3496, failing to sustain gains above key resistance at 1.3555. The pair is now range-trading between 1.3475 and 1.3525 intraday, with momentum slowing after a modest rally earlier in the week.
Analysts had previously flagged 1.3555 as a critical level, noting that a break above it was unlikely. The pound’s recent pullback from 1.3540 reinforces this view, with support holding at 1.3460. A drop below this level could signal a shift to broader consolidation.
The outlook remains mildly constructive over the next 1-3 weeks, but sustained gains beyond 1.3555 are not expected. Traders are watching for further signs of range-bound behavior in the near term.