GBP/USD Volatility May Cap Upside Ahead of Key Resistance

GBP/USD has been experiencing a volatile session, according to UOB's Quek Ser Leang. The pair spiked from 1.3401 to 1.3481 last Friday and may have scope for further gains towards 1.3520. However, overbought conditions could limit any gains.

Over the next 1-3 weeks, strong momentum is expected but it's unclear whether GBP can break and hold above 1.3555. Support levels are in place around 1.3385, which would indicate that the current upward pressure has eased if breached.