Pound Falls Below Range, Bears Eye Key Support at 1.3480

The British Pound has broken below its anticipated intraday range, falling to 1.3507 as downward momentum builds.

According to UOB's Quek Ser Leang and Lee Sue Ann, this break suggests a bearish bias for the currency against the US Dollar.

The analysts expect potential tests of the major support at 1.3480, provided prices stay below 1.3545.

Over one to three weeks, they caution that there is a downside risk focus, with 1.3480 as the key level unless 1.3570 resistance is breached.