UOB analysts forecast GBP/USD range-bound trading after a failed breakout above 1.3420, with support at 1.3330.
GBP/USD retreated into a consolidation phase after briefly pushing above 1.3420 failed to sustain momentum. The pair is expected to trade within a tight range, with intraday pullbacks likely contained between 1.3330 and 1.3395.
The move follows a period of volatility where the pound struggled to hold gains beyond key resistance levels. Analysts noted the lack of follow-through buying above 1.3420, signaling potential sideways movement in the near term.
No immediate market reaction was specified, but traders may monitor support and resistance levels for directional cues.