GBP/USD climbs to 1.3255, invalidating previous downside expectations as analysts look for stronger momentum to clear the 1.3280 resistance barrier.
UOB notes GBP/USD bounced to 1.3255, invalidating downside bias, but expects upside to be capped at 1.3280 without stronger momentum.
The British Pound rebounded to 1.3255, prompting UOB analysts to shift their outlook from a bearish bias. While short-term momentum supports potential gains, analysts remain cautious regarding a sustained breakout above the 1.3280 resistance level.
UOB analysts have moved away from their previous downside bias, noting that the pair has sufficient short-term momentum to test higher levels, though a breakout above 1.3280 remains unlikely without stronger signals.