Forex
British Pound Faces Test of 1.3335 Against US Dollar
UOB analysts Quek Ser Leang and Lee Sue Ann remain bearish on the British Pound (GBP) against the US Dollar (USD), expecting a test of last week's low near 1.3335.
The pair has eased to around 1.3370, and while a break below this level is seen as unlikely, downside risk persists on a 1-3 week horizon.
In their analysis, they note that the GBP has been oversold but question whether it has sufficient momentum to reach 1.3300 support.