GBP/USD: Next on the upside comes 1.2200 – UOB

Pablo Piovano FXStreet

In the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, GBP/USD is expected to climb further and could revisit 1.2200 in the next weeks.

Key Quotes

24-hour view: “While we expected GBP to strengthen yesterday, we were of the view that it ‘is unlikely to break the major resistance at 1.1940’. However, GBP blew past 1.1940 and rocketed to a high of 1.2080. There is room for GBP to strengthen further but in view of the deeply overbought conditions, the next major resistance at 1.2200 is unlikely to come into view (there is another resistance at 1.2140). On the downside, a breach of 1.1975 (minor support is at 1.2025) would indicate that the strong rally is ready to take a breather.”

Next 1-3 weeks: “Our latest narrative was from Tuesday (22 Nov, spot at 1.1825) where GBP is likely to trade between 1.1680 and 1.1940 for the time being. Yesterday (23 Nov), GBP lifted off and rocketed past 1.1940 (high has been 1.2080). The rapid accumulation of momentum suggests GBP is likely to strengthen further in the coming days. The level to monitor is at 1.2200. The upside risk is intact as long as GBP does not move below 1.1930 (‘strong support’ level).”

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.