Select Language

GBP/USD: A sustained advance can be expected above 1.3600 - UOB Group

Breaking news

GBP/USD: A sustained advance can be expected above 1.3600 - UOB Group

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
update 2025.06.04 17:49
GBP/USD: A sustained advance can be expected above 1.3600 - UOB Group

update 2025.06.04 17:49

Current price movements are likely part of a 1.3490/1.3555 range trading phase. In the longer run, Pound Sterling (GBP) must first close above 1.3600 before a sustained advance can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Current price movements are likely part of a 1.3490/1.3555 range

24-HOUR VIEW: "GBP soared to 1.3559 on Monday. Yesterday, Tuesday, we indicated that 'strong momentum suggests further GBP strength, even though it is unclear this will be sufficient for a break of the 1.3600 resistance.' Our assessment was incorrect, as GBP retreated, reaching a low of 1.3493 before closing at 1.3520 (-0.18%). The current price movements are likely part of a range trading phase. Today, we expect GBP to trade between 1.3490 and 1.3555."

1-3 WEEKS VIEW: "Last Friday (30 May, spot at 1.3500), we indicated that 'the current price movements still appear to be part of a range trading phase, likely between 1.3400 and 1.3600.' After GBP rose to 1.3559, we indicated yesterday (03 Jun, spot at 1.3555) that 'there has been an increase in short-term upward momentum, but for a sustained advance, GBP must first close above 1.3600.' We added, 'the likelihood of GBP closing above 1.3600 will grow in the next few days as long as the 'strong support' level at 1.3470 is intact.' Our view remains unchanged."


Date

Created

 : 2025.06.04

Update

Last updated

 : 2025.06.04

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

EUR/JPY rally continues as market eyes break above 170.00

The Euro (EUR) strengthens against the Japanese Yen (JPY) on Friday, with the EUR/JPY pair climbing toward levels not seen since July 2024.
New
update2025.06.27 23:54

Dollar Index remains weak as core PCE inflation rises, Personal spending fall

The US Dollar Index (DXY) is nearing 97.00 support as investors digest the latest batch of inflation data released out of the United States.
New
update2025.06.27 22:56

NZD/USD extends winning streak, nearing fresh year-to-date highs

The New Zealand Dollar (NZD) extends its winning streak against the US Dollar (USD) for the fifth straight session on Friday, buoyed by broad-based Greenback weakness.
New
update2025.06.27 22:04

Gold suffers another setback following a US-China trade truce, ahead of PCE inflation report

Gold (XAU/USD) is suffering another setback after reports telling that China and the United States have reached a trade deal.
New
update2025.06.27 21:19

Fed's Kashkari: The Fed might cut rates twice this year

The President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, noted that he was sticking to his view that cooling inflation would allow the Fed to cut its policy rate twice that year, beginning in September.
New
update2025.06.27 21:17

Platinum continues to catch up with Gold - Commerzbank

There's no stopping the price of Platinum: Yesterday, it climbed above the $1,400 per troy ounce mark for the first time since September 2014, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen and commodity analyst Barbara Lambrecht note.
New
update2025.06.27 21:10

JPY flat vs. USD and lagging G4 peers EUR and GBP - Scotiabank

The Japanese Yen (JPY) is soft, down marginally against the US Dollar (USD) and trading around the midpoint of its range since early April, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
update2025.06.27 21:05

Central banks intend to buy more Gold - Commerzbank

Gold remains in high demand among central banks. According to a survey published a few days ago by the Official Monetary and Financial Institutions Forum (OMFIF), a third of the 75 central banks surveyed plan to buy Gold in the next 1-2 years, Commerzbank's commodity analyst Carsten Fritsch notes.
New
update2025.06.27 21:03

GBP is trading unchanged near high - Scotiabank

Pound Sterling (GBP) is also quietly consolidating its latest push to a fresh multi-year high, trading just below Thursday's local top in the upper 1.37s, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
update2025.06.27 21:01

Further signs of easing on the European Gas market - Commerzbank

The EU Council has provisionally agreed with the Parliament to grant member states more flexibility to fulfil their Gas storage filling targets, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.
New
update2025.06.27 20:59

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