GBP/USD Upside Intact Above 1.3605: UOB

According to United Overseas Bank's (UOB) analysts Quek Ser Leang and Lee Sue Ann, the British Pound remains poised for upside against the US Dollar. The analysts maintain a positive outlook for GBP/USD over the next 1-3 weeks, with 1.3700 still in sight as long as the pair holds above 1.3605.

The near-term tone has softened, and spot has slipped below the bank's expected intraday range of 1.3630-1.3665. However, the broader upside scenario remains valid unless strong support at 1.3605 gives way.

Over the past week, GBP/USD has traded in a relatively narrow range between 1.3615 and 1.3660, with prices eventually closing modestly higher at 1.3650 (+0.15%) on Monday.