Analysts see limited upside for the British Pound against the US Dollar, citing overbought conditions and resistance at 1.3655.
The British Pound surged to 1.3630 against the US Dollar before retreating, closing at 1.3606 (+0.55%). Analysts describe the rally as overstretched, with momentum divergence signaling potential resistance near 1.3655.
Earlier forecasts had set 1.3600 as a key resistance level, but GBP broke through before easing. Support is now seen at 1.3535, with a breach likely indicating stalled upside momentum.
Short-term consolidation is expected between 1.3570 and 1.3630, as overbought conditions limit further gains.