GBP/USD: Likely to trade in a range between 1.3260 and 1.3330 – UOB Group

Source Fxstreet

Pound Sterling (GBP) is likely to trade in a range between 1.3260 and 1.3330 against US Dollar (USD). In the longer run, the likelihood of GBP breaking clearly below 1.3140 has diminished considerably, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Likelihood of GBP breaking clearly below 1.3140 has diminished

24-HOUR VIEW: "We expected GBP to 'trade in a range between 1.3220 and 1.3320' yesterday. The subsequent price movements did not turn out as expected. GBP traded in a range of 1.3255/1.3331, closing largely unchanged at 1.3287 (+0.07%). The price action did not result in any increase in either downward or upward momentum. Today, GBP could continue to trade in a range, most likely between 1.3260 and 1.3330."

1-3 WEEKS VIEW: "We previously indicated 1.3140 as the technical target for our negative outlook. Last Friday, GBP dropped to 1.3143 and then rebounded. Yesterday, Monday (04 Aug, spot at 1.3275), we highlighted the following: 'The price action has resulted in a sharp slowdown in downward momentum. The likelihood of GBP breaking clearly below 1.3140 has diminished considerably, but only a breach of 1.3355 (‘strong resistance’ level) would indicate that the GBP weakness from early last week (as annotated in the chart below) has stabilised.' There is no change in our view."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin Moving With Stocks, But Ethereum’s Correlation Is FadingBitcoin has been showing notable correlation to the stock equities recently, but data shows Ethereum is charting a more independent path. Bitcoin & Ethereum Showing Different Degrees Of
Author  NewsBTC
7 Month 10 Day Thu
Bitcoin has been showing notable correlation to the stock equities recently, but data shows Ethereum is charting a more independent path. Bitcoin & Ethereum Showing Different Degrees Of
placeholder
Ripple’s $21 Trillion Dream: What Capturing 20% Of SWIFT Volume Means For XRPRipple Labs, a crypto payments company, continues to set its ambitions and those of XRP higher than ever as it edges closer to disrupting the global financial messaging giant SWIFT. After Ripple CEO
Author  NewsBTC
7 Month 14 Day Mon
Ripple Labs, a crypto payments company, continues to set its ambitions and those of XRP higher than ever as it edges closer to disrupting the global financial messaging giant SWIFT. After Ripple CEO
placeholder
Philippines' GDP Growth Rises to 5.5% in Second Quarter of 2025The Philippine economy expanded at a marginally faster pace in the second quarter of 2025, with GDP growing 5.5% year-on-year.
Author  Mitrade
8 Month 07 Day Thu
The Philippine economy expanded at a marginally faster pace in the second quarter of 2025, with GDP growing 5.5% year-on-year.
placeholder
Asia Stocks Cautious Before China Tariff Deadline; Australia Sets Record HighMost Asian stock markets were little changed on Monday as investors looked ahead to the looming expiration of the U.S.-China tariff truce, while Australian equities climbed to new highs on rate-cut expectations.
Author  FXStreet
3 hours ago
Most Asian stock markets were little changed on Monday as investors looked ahead to the looming expiration of the U.S.-China tariff truce, while Australian equities climbed to new highs on rate-cut expectations.
placeholder
Oil Prices Extend Losses as Traders Eye US-Russia Summit, Inflation DataOil prices declined in Asian trading on Monday, adding to sharp losses from last week as expectations of progress in U.S.-Russia talks dampened geopolitical risk premiums, while weak inflation data from China weighed on demand sentiment.
Author  FXStreet
3 hours ago
Oil prices declined in Asian trading on Monday, adding to sharp losses from last week as expectations of progress in U.S.-Russia talks dampened geopolitical risk premiums, while weak inflation data from China weighed on demand sentiment.
Related Instrument
goTop
quote