Analysts see strong momentum for the pound but warn overbought conditions may limit gains near 1.3555 against the dollar.
The British pound surged to 1.3481 against the US dollar in a volatile session, up 0.13%, with potential to extend gains toward 1.3520. However, overbought conditions may cap further upside, keeping major resistance at 1.3555 out of reach for now.
Recent momentum broke the 1.3400 resistance level, pushing GBP/USD to 1.3494, but analysts question whether the pair can sustain a break above 1.3555. Support is pegged at 1.3385, with a breach below 1.3425 signaling easing upward pressure.
For the next 1-3 weeks, strong momentum persists, though the ability to hold above 1.3555 remains uncertain. Immediate support sits at 1.3450, reinforcing the pair’s fragile balance near current levels.