GBP/USD Momentum Limited, UOB Analysts Warn

According to United Overseas Bank's (UOB) analysts Quek Ser Leang and Lee Sue Ann, the British Pound has been gaining against the US Dollar but its momentum is limited.

The GBP/USD pair edged higher to 1.3469 after briefly touching 1.3486, with short-term momentum only slightly firmer, they report.

Instead of embarking on a strong rally, the pair is expected to trade in a higher range of 1.3445-1.3495 rather than making a significant move toward 1.3555 as long as support at 1.3410 holds.