The GBP/USD currency pair is currently experiencing a near-term bias leaning towards the upside, as UOB Group's FX analysts, Quek Ser Leang and Peter Chia, highlight. However, the analysts suggest that the Pound Sterling (GBP) is unlikely to break above the critical resistance level of 1.3505. As a result, the exchange rate may remain constrained within a range, particularly if it falls below 1.3380.
Market sentiment indicates that while traders may see some upward potential for the GBP, the overall outlook suggests limited upward momentum. Should the GBP/USD dip below 1.3380, a range-trading environment could ensue. This scenario would potentially keep the currency pair in a tight trading band, reflecting cautious sentiment amid broader market influences, including fluctuations in USD and EUR valuations.
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Data Source: FX Killer Analysis Team Updated: 2026-01-21 10:57
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.