GBP/USD Volatility: Analysts Question Breakthrough Above 1.3555

The British Pound has experienced a volatile session against the US Dollar, according to United Overseas Bank's (UOB) Quek Ser Leang. The pair surged from 1.3401 to 1.3481 last Friday, with a scope for further gains towards 1.3520.

However, overbought conditions may limit any gains, capping upside at this level. The major resistance at 1.3555 is not expected to come into view in the near term.

Looking ahead to the next 1-3 weeks, Quek Ser Leang sees strong momentum for the GBP/USD pair but questions whether it can break and hold above 1.3555. Support is found around 1.3385, which would need to be breached for the current upward pressure to ease.