UOB strategists maintain a bullish outlook for GBP/USD, projecting a potential climb to 1.3405 as the pair consolidates following a stronger-than-expected surge to 1.3371.
UOB strategists Quek Ser Leang and Lee Sue Ann highlight that the GBP/USD pair has demonstrated significant bullish momentum following a stronger-than-expected surge to 1.3371. While the pair is currently undergoing a consolidation phase between 1.3290 and 1.3360 to address overbought conditions, the medium-term outlook remains positive with a projected target of 1.3405 over the next 1-3 weeks.
The pair is currently consolidating between 1.3290 and 1.3360.
UOB identifies the next major resistance level at 1.3405.
The British Pound maintains a bullish outlook as UOB strategists identify potential for a move toward 1.3405. Despite a recent consolidation phase between 1.3290 and 1.3360, the currency pair shows sustained upward momentum over the next one to three weeks.
UOB strategists maintain a bullish outlook, expecting the pair to test the 1.3405 resistance level in the coming weeks.