GBP/USD: Downside bias capped near 1.3305 – UOB

UOB analysts report GBP/USD easing to around 1.3340, with the intraday bias still lower but momentum not strong enough for a deeper slide. They see declines likely limited to a test of 1.3305, with resistance at 1.3355/1.3375. Over 1–3 weeks, they maintain a mixed outlook, expecting range trading between 1.3220 and 1.3480.

Mild downside within broader range

"While the bias remains on the downside, given that there is no significant increase in momentum, any decline is likely limited to a test of 1.3305."

"Resistance is at 1.3355; a break above 1.3375 would indicate that the downside bias has faded."

"Outlook is mixed; GBP could trade between the two major levels of 1.3220 and 1.3480."

"A weekly close below the key support at 1.3300 could trigger a decline toward the major support zone at 1.2945/1.3010."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)