GBP/USD Range-Bound as Momentum Fades Below Key Support

GBP/USD has been stuck in tight ranges around 1.3455 according to United Overseas Bank's (UOB) analysts Quek Ser Leang and Lee Sue Ann.

They note that there is a slight increase in near-term downside momentum, but any intraday decline is likely to stay within the range of 1.3430-1.3475.

The analysts also expect a break of 1.3410 on a 1-3 week view to confirm that the previously eyed resistance at 1.3555 is unlikely to be tested soon.