United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann provided updated outlooks for both the USD/CHF and GBP/USD currency pairs, highlighting a prevailing range-trading environment with mild downside momentum for both pairs. For USD/CHF, the analysts noted a slight increase in downside momentum, suggesting scope for the pair to test 0.8290, but they consider a sustained break below this level unlikely. Over the coming days, they expect USD/CHF to trade within a 0.8245 to 0.8365 range, and over the next 1–3 months, they anticipate a continued rebound that is unlikely to reach the July peak [1].
Regarding GBP/USD, UOB analysts observed that the pair has maintained modest gains around 1.3230, despite recent Bank of England guidance on higher-for-longer interest rates not resulting in a clear bullish trend. Intraday, GBP/USD is expected to trade between 1.3215 and 1.3260, while over the next 1–3 weeks, Sterling could edge lower within a broader 1.3140 to 1.3280 band. The analysts noted a slight increase in downward momentum for GBP, but emphasized that it is insufficient to indicate a sustained decline, and any move lower is likely to remain within the established range [2].
Both reports underscore a lack of strong directional conviction in the near term, with price action for both currency pairs expected to remain confined within well-defined ranges. The analysts' commentary suggests that recent market developments, including central bank guidance, have not been sufficient to trigger significant breakouts or sustained trends in either USD/CHF or GBP/USD [1][2].
CONCLUSION
UOB analysts expect both USD/CHF and GBP/USD to remain range-bound in the near term, with only mild downside bias and limited prospects for sustained moves outside established trading bands. Market participants are likely to see continued consolidation as neither pair exhibits strong momentum for a breakout.