GBP/USD now moved into a range bound theme – UOB

Pablo Piovano FXStreet

Cable is now seen within the 1.2430-1.2600 range in the next weeks, noted FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang.

Key Quotes

24-hour view: “We held the view yesterday that GBP ‘could move above 1.2600 but is unlikely to break the next major resistance at 1.2640’. GBP subsequently rose to 1.2600, plunged to 1.2475 before rebounding sharply. The choppy price actions have resulted in a mixed outlook and GBP is likely to trade within a range of 1.2480/1.2580 for today.”

Next 1-3 weeks: “After GBP rose to 1.2601, we highlighted yesterday (24 May, spot at 1.2575) that while upward momentum has not improved by all that much, GBP could advance towards the major resistance at 1.2640. GBP subsequently tested the 1.2600 level again before plummeting below our ‘strong support’ level at 1.2480 (low of 1.2475). The break of our ‘strong support’ level indicates that the recent upward pressure has eased. Looking ahead, further GBP strength is not ruled out but it has to close above 1.2600 before a sustained advance is likely. In the meanwhile, GBP is likely to consolidate and trade between 1.2430 and 1.2600.”

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 extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD tilts bullish as markets barrel toward mid-week NFP print

GBP/USD is holding a broader bullish structure on the daily chart, with price trading well above the 50 Exponential Moving Average at 1.3507 and the 200 EMA at 1.3310, confirming the intermediate uptrend that has been in place since the November 2025 low near 1.2300.

Gold pushes back above $5,000

The daily chart shows spot Gold in a parabolic uptrend that accelerated sharply from the $4,600 area in late January, printing a record high at $5,598.25 before a violent reversal erased nearly $1,000 in value during the final days of the month.

Litecoin eyes $50 as heavy losses weigh on investors

Following a strong downtrend across the crypto market over the past week, Litecoin holders are under immense pressure. The Bitcoin fork has trimmed about $1.81 billion from its market capitalization since the beginning of the year, sending it below the top 20 cryptos by market cap.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.