UOB Expects GBP/USD to Remain Range-Bound Following Failed Break Above 1.3700

UOB analysts Quek Ser Leang and Peter Chia expect the GBP/USD pair to trade within a defined range in the near term. This outlook follows a period of high volatility where the pair spiked to 1.3712 before retreating to close near 1.3628. The failed attempt to sustain gains above the 1.3700 level suggests a lack of clear directional momentum for the British pound. While there is a technical risk of a brief dip below the 1.3600 support level, UOB believes an extension toward 1.3550 is unlikely. The bank's technical assessment remains neutral, anticipating the pair will fluctuate between 1.3600 and 1.3700.