GBP/USD Under Pressure as Risks Extend Toward 1.3300

GBP/USD remains under pressure after four consecutive daily declines, according to United Overseas Bank's (UOB) Quek Ser Leang. Despite this, short-term momentum has not intensified, and intraday, the British Pound is expected to range between 1.3335 and 1.3390.

Looking ahead, risks remain skewed lower toward 1.3350 and possibly 1.3300, while strong resistance is now marked at 1.3435. On Wednesday, GBP fell to a low of 1.3375 before stabilizing, but the sharp decline was seen as excessive.

Intraday, GBP initially rose to 1.3407 before plummeting to 1.3337 and closing at 1.3358 (-0.16%). While conditions remain deeply oversold, it's unclear whether GBP has sufficient momentum to reach the next technical target at 1.3300.

On the upside, a breach of the 'strong resistance' at 1.3435 would indicate that the weakness in GBP is stabilizing, suggesting that further declines may be limited.