Select Language

GBP/USD: Likely to trade in a lower range of 1.3480/1.3560 - UOB Group

Breaking news

GBP/USD: Likely to trade in a lower range of 1.3480/1.3560 - UOB Group

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.05.28 19:17
GBP/USD: Likely to trade in a lower range of 1.3480/1.3560 - UOB Group

update 2025.05.28 19:17

The slight increase in downward momentum suggests GBP is likely to trade in a lower range of 1.3480/1.3560. In the longer run, upward momentum is beginning to wane, but only a breach of 1.3460 would mean that 1.3635 is out of reach this time round, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Upward momentum is beginning to wane

24-HOUR VIEW: "Our view for GBP to 'consolidate 1.3540 and 1.3600" yesterday was incorrect, as it fell to 1.3501 before closing at 1.3507, down 0.42%. The decline only resulted in a slight increase in downward momentum, and rather than a sustained drop, GBP is more likely to trade in a lower range of 1.3480/1.3560 today."

1-3 WEEKS VIEW: "We have held a positive GBP view since the middle of last week. In our most recent narrative from two days ago (26 May, spot at 1.3530), we pointed out that 'upward momentum remains strong.' We added, The next objective is 1.3635.' Yesterday, GBP saw a surprisingly sharp pullback, dropping to a low of 1.3501. While upward momentum is beginning to wane, only a break below 1.3460 (no change in 'strong support' level from yesterday) would mean that 1.3635 is out of reach this time round."


Date

Created

 : 2025.05.28

Update

Last updated

 : 2025.05.28

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

USD/JPY steadies ahead of US JOLTS data and potential clues on the health of the US labour market

The Japanese Yen (JPY) is edging lower against the US Dollar (USD) on Tuesday as market participants await the release of the US Job Openings and Labor Turnover Survey, scheduled for 14:00 GMT.
New
update2025.06.03 22:43

Indian Rupee slips as US Dollar stabilizes, RBI rate cut bets in focus

The Indian Rupee (INR) weakens against the US Dollar (USD) on Tuesday, giving back  Monday's gains as the Greenback stabilizes ahead of key US labor market data.
New
update2025.06.03 22:40

Gold eases from almost one-month high ahead of US JOLTS data, more Fed speak

Gold prices are experiencing a mild pullback after testing their highest levels since May 8 on Monday, as investors continue to digest trade-related headlines, including US President Donald Trump's request that countries submit their trade offers by Wednesday and the possibility of a call between Tr
New
update2025.06.03 20:50

USD/CHF returns above 0.8200 with the Dollar appreciating as risk aversion eases

The US Dollar is posting moderate gains on Tuesday's European session, reaching intra-day highs past the 0.8200 psychological level, after bouncing up from at 0.8155, six-week lows.
New
update2025.06.03 20:42

AUD/USD drifts lower amid cautious RBA, global trade uncertainty

The Australian Dollar (AUD) slips against the US Dollar (USD) on Tuesday, retreating from recent highs to 0.6460 as traders react to the Reserve Bank of Australia's (RBA) cautious tone and softer-than-expected current account figures.
New
update2025.06.03 20:42

JPY is a relative performer on the day - Scotiabank

Japanese Yen (JPY) is soft, down marginally against the US Dollar (USD) but outperforming most of the G10 currencies, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
update2025.06.03 20:38

GBP soft vs. USD but performing relatively well vs. G10 - Scotiabank

Pound Sterling (GBP) is soft, down a marginal 0.2% against the US Dollar (USD) and a relative performer among the G10 in an environment of mild, albeit broad-based USD strength, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
update2025.06.03 20:34

EUR hits fresh one month high ahead of ECB Thursday - Scotiabank

Euro (EUR) is soft, down 0.3% against the US Dollar (USD) and a mid-performer among the G10 currencies, pulling back modestly from its overnight push to a fresh one month high, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
update2025.06.03 20:30

CAD edges lower after another rebound from the upper 1.36s - Scotiabank

The Canadian Dollar (CAD) has edged a little lower on the session, in line with its major currency peers. Spot may continue to range trade ahead of Wednesday's BoC policy decision, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
update2025.06.03 20:30

USD steadies, undertone remains bearish - Scotiabank

The US Dollar (USD) is tracking a little higher overall, consolidating the soft tone seen over the past few sessions as the Dollar Index (DXY) losses hold near recent lows, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
update2025.06.03 20:22

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel