GBP/USD Upside Capped Below $1.3410: UOB Technical View

UOB Group's foreign exchange strategists have identified resistance in the British pound against the US dollar, warning of a potential pullback if the pair stays below $1.3410.

This technical view is based on short-term price action and momentum indicators, which show that buying interest has waned. The assessment focuses on the next 1-3 weeks, giving traders a near-term roadmap for potential moves.

The pound's recent advance has stalled at $1.3410, with the US dollar remaining firm due to the Federal Reserve's cautious stance on rate cuts. This divergence in monetary policy is weighing on the pound and may impact crypto risk sentiment.