GBP/USD Stuck in Range, Eye on 1.3700 Target

UOB's analysts Quek Ser Leang and Lee Sue Ann predict that GBP/USD will remain in a short-term consolidation phase, trading between 1.3620 and 1.3665.

The pair recently pushed to an overbought level of 1.3675, but the analysts expect it to fall back within its established range.

Looking ahead, they maintain their positive view on GBP/USD, anticipating a move towards 1.3700 unless it falls through strong support at 1.3585.

In their 1-3 week view, they are optimistic about the pair's prospects, citing its potential to rise to 1.3700, but warn that if it breaks below 1.3585, reaching this target would be out of reach.