Pound Sterling Price News and Forecast: GBP/USD – Expected to rise to 1.3300

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GBP/USD: Expected to rise to 1.33000 – UOB Group

The Pound Sterling (GBP) is expected to rise to 1.3300, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

24-HOUR VIEW: "On Wednesday, GBP surged to a high of 1.3245. Yesterday, we indicated that 'while the sharp advance appears excessive, there is scope for GBP to rise to 1.3270 today, potentially testing the major resistance at 1.3300'. We added that 'support levels are at 1.3215 and 1.3180'. GBP then rose to 1.3269, pulled back to a low of 1.3210 before closing largely unchanged at 1.3238 (-0.03%). GBP has likely moved into a consolidation phase, and today we expect GBP to trade in a range of 1.3220/1.3270." Read more...

GBP/USD regains footing, but underlying doubts persist

The GBP/USD pair is edging higher, trading around 1.3239, following a pause in its five-day rally. While the pair has returned to positive territory, investor focus has shifted to the underlying health of the UK economy and the credibility of the newly announced budget measures.

The fundamental headwinds for sterling remain significant. Weak growth prospects, stubbornly low productivity, and persistent inflationary pressures continue to cap the currency's long-term potential. Read more...

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