UOB analysts see limited upside for the British Pound, with resistance at 1.3555 and support at 1.3460 amid slowing momentum.
The British Pound extended its recent rally against the US Dollar but faces resistance near 1.3555, according to analysts. GBP/USD closed at 1.3507, up 0.10%, with intraday moves confined to a 1.3490–1.3535 range due to overbought conditions and slowing momentum.
UOB had turned positive on GBP earlier this month, citing potential for a test of 1.3555, though a sustained break above remains unlikely. Strong support has shifted to 1.3460, up from 1.3410, as upward momentum shows modest improvement but lacks conviction for further gains.