GBP/USD consolidates near 1.3472 following a seven-week high, with UOB analysts projecting a trading range between 1.3445 and 1.3505 as the underlying bullish trend persists.
UOB analysts note GBP/USD hit a seven-week high near 1.3503 before easing to 1.3472, and say the uptrend remains in place despite overbought conditions. The bullish trend suggests the pair may continue to rise over the coming weeks, though overbought signals could cause a near-term pullback. Intraday consolidation is expected between 1.3445 and 1.3505.
UOB analysts noted the pair jumped to a seven-week high near 1.3503 before easing to 1.3472, and expect intraday consolidation between 1.3445 and 1.3505.
Yes, UOB says the uptrend is still in place despite overbought conditions.
The British Pound maintains its bullish momentum against the US Dollar after reaching a seven-week peak of 1.3503. While UOB analysts warn that overbought conditions may trigger a near-term pullback, the broader uptrend remains intact for the currency pair.
UOB analysts view the uptrend as intact despite overbought conditions, expecting the pair to consolidate between 1.3445 and 1.3505 in the near term.
Traders are monitoring the 1.3503 resistance level, which marks a seven-week high, and the 1.3445 support level for intraday consolidation.