United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann have maintained a bullish outlook for the British Pound against the US Dollar, targeting a move toward 1.3700 in the coming weeks. Despite recent range-bound price action, with GBP/USD trading between 1.3621 and 1.3656 before closing at 1.3630 (-0.10%), UOB's 1–3 week view remains positive after turning bullish last week [1].
UOB highlighted that momentum indicators are currently neutral, and the GBP/USD pair is likely to continue trading within a narrow range of 1.3615 to 1.3660 in the near term. The analysts emphasized that a break below the strong support level at 1.3585 would negate the upside scenario and put the target of 1.3700 out of reach [1].
The market implication, according to UOB, is that while short-term movements may remain subdued and range-bound, the medium-term bias is tilted to the upside as long as the 1.3585 support holds. No specific market reactions or analyst opinions beyond UOB's outlook were discussed in the article [1].
CONCLUSION
UOB continues to see upside potential for GBP/USD, targeting 1.3700 in the coming weeks as long as the 1.3585 support level remains intact. The current market environment is characterized by neutral momentum and range-bound trading, but the medium-term bias remains positive.