Analysts forecast GBP/USD will trade between 1.3330 and 1.3530 in the near term after failing to break recent highs.
GBP/USD is consolidating between 1.3400 and 1.3460 after a sharp rise stalled, with near-term downward pressure easing, according to market analysis. The pair closed largely unchanged at 1.3430, failing to retest the recent high of 1.3463.
Over a 1-3 week horizon, the Pound is expected to range-trade between 1.3330 and 1.3530. A weekly close below 1.3300 could signal a potential slide toward 1.2945-1.3010, though no immediate breakout is anticipated.
Traders are monitoring the pair’s inability to sustain momentum above 1.3460, reinforcing expectations of sideways movement in the near term.