GBP/USD: Extra gains likely above 1.3365 – UOB

Pablo Piovano FXStreet

Cable is seen extending the upside while above the 1.3365 level in the near-term, suggested FX Strategists at UOB Group.

Key Quotes

24-hour view: “Last Friday, we highlighted that ‘upward pressure has more or less dissipated’ and we expected GBP to ‘trade within a 1.3315/1.3390 range’. GBP subsequently dropped to a low of 1.3284 before rebounding quickly (high has 1.3381). The rebound has scope to extend higher but any advance is likely limited to a test of 1.3365. The major resistance at 1.3400 is unlikely to come under threat. Support is at 1.3300 followed by 1.3280.”

Next 1-3 weeks: “We have held a positive view in GBP for more than 2 weeks now. Our latest narrative was from last Thursday (26 Nov, spot at 1.3385) wherein ‘a break of 1.3400 would shift the focus to the year-to-date high at 1.3481’. GBP subsequently touched 1.3399 before dropping to a low of 1.3284 last Friday (27 Nov). While our ‘strong support’ level at 1.3280 is still intact, upward momentum has waned and the odds for further GBP strength have diminished. In order to rejuvenate the flagging momentum, GBP has to move and stay above 1.3365 within these 1 to 2 days or a break of 1.3280 would not be surprising and would indicate that the positive phase in GBP has run its course.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD stays near 1.1650 with fading momentum

EUR/USD holds ground after five days of losses, trading around 1.1650 during the Asian hours on Friday. The 14-day Relative Strength Index momentum indicator at 39 trends lower, confirming fading momentum rather than oversold conditions.

GBP/USD remains below 1.3450, nine-day EMA

GBP/USD remains subdued for the fourth consecutive day, trading around 1.3430 during the Asian hours on Friday. The momentum indicator 14-day Relative Strength Index at 51.9 is neutral, reflecting slower momentum after firm recent readings. An RSI drop back beneath 50 would strengthen the case for a deeper pullback.

Gold edges lower as USD preserves its recent gains ahead of US NFP report

Gold struggles to capitalize on the previous day's goodish rebound from the vicinity of the $4,400 mark and attracts fresh sellers during the Asian session on Friday. The US Dollar preserves its gains registered over the past two weeks and touches a nearly one-month high, undermining the commodity.

Bitcoin, Ethereum and Ripple find key support, reviving rally hopes

Bitcoin, Ethereum, and Ripple steadied above key support levels on Friday after being rejected at mid-week resistance zones. The short-term recovery prospects remain intact if the top three cryptocurrencies by market capitalization hold these support zones.

2026 economic outlook: Clear skies but don’t unfasten your seatbelts yet

Most years fade into the background as soon as a new one starts. Not 2025: a year of epochal shifts, in which the macroeconomy was the dog that did not bark. What to expect in 2026? The shocks of 2025 will not be undone, but neither will they be repeated.

Pepe Price Forecast: PEPE risks 100-day EMA fallout as bullish interest fades

Pepe is under extreme selling pressure, trading in the red for the fifth consecutive day, down 1% at press time on Friday. Pepe’s decline following a 72% hike last week suggests a likely profit-booking phase, while on-chain data indicates declining network activity.