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Forex

GBP/USD Poised for Rise to 1.3700: UOB

Guavy AI Editorial Team
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The British Pound (GBP) has been experiencing range-bound intraday trading between 1.3615 and 1.3660 against the US Dollar, according to United Overseas Bank's (UOB) analysis.

Quek Ser Leang and Lee Sue Ann from UOB describe the momentum indicators as neutral, but their 1-3 week view remains positive after turning bullish last week.

The analysts are looking for a move toward 1.3700, with strong support at 1.3585 serving as a crucial level to watch.

A break below 1.3585 would negate the upside scenario and make it more challenging for GBP/USD to reach its target of 1.3700.

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