UOB’s Quek Ser Leang and Lee Sue Ann keep a neutral view on GBP/USD around 1.3545, noting recent sideways trade between 1.3531 and 1.3567. They now see a tighter 1.3495–1.3590 range as sufficient to contain price action. On a 1–3 month horizon, they highlight scope for the pullback to extend below the 55‑day EMA at 1.3475 and toward trendline support near 1.3410.
Pound expected to hold sideways range
“24-HOUR VIEW: Yesterday, we held the view that GBP “is likely to trade sideways between 1.3520 and 1.3570.” GBP subsequently fluctuated between 1.3531 and 1.3567 before closing at 1.3547 (+0.05%). The price action provides no fresh clues. Today, GBP could trade between 1.3520 and 1.3570.”
“1-3 WEEKS VIEW: In our most recent narrative from last Friday (04 Sep, spot at 1.3530), we highlighted that GBP “is neutral now and it is likely to trade between 1.3480 and 1.3600.” Although GBP has been edging higher over the past few days, there has been no significant increase in upward momentum. We continue to hold a neutral stance, but a narrower range of 1.3495/1.3590 is likely enough to contain the price movements for now.”
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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