Sterling gains momentum against the US Dollar as UOB strategists pivot from a bearish stance following a breakout above established resistance levels.
UOB strategists note GBP/USD broke above resistance and outperformed, but upside is capped near 1.3315, leading to a neutral short-term outlook.
United Overseas Bank strategists report that the British Pound successfully breached key resistance levels on Tuesday. This momentum invalidates previous bearish forecasts, though analysts now anticipate limited upside potential near the 1.3315 mark.
UOB strategists maintain a neutral short-term outlook, noting that while the pair broke above resistance, further gains are likely capped near 1.3315.