Forex
GBP/USD Extends Decline, Analysts See Limited Weakness Below 1.3465
According to United Overseas Bank's (UOB) analysts Quek Ser Leang and Lee Sue Ann, the British Pound has extended its decline against the US Dollar, reaching a low of 1.3475 before rebounding to close at 1.3485.
The intraday bias remains lower for GBP/USD, but any weakness is seen limited to a test of 1.3465, with 1.3510 marking a shift back to range trading.
Over the coming weeks, downside risk persists toward 1.3415, while the broader 1.3210-1.3655 range dominates the 1-3 month outlook for the Pound.