GBP/USD: Mild downside within mixed outlook – UOB

UOB economist analysts Quek Ser Leang Lee and Sue Ann report that GBP/USD traded softer, closing at 1.3366 after a narrower 1.3359–1.3436 range than expected. They see mild downward pressure intraday, though a move to 1.3320 is unlikely. Over one to three weeks, the outlook remains mixed, with the Pound expected to oscillate between 1.3220 and 1.3480 and medium‑term risk of a drop toward 1.2945–1.3010 on a weekly close below 1.3300.

Pound holds in broad range against Dollar

"24-HOUR VIEW: GBP appears to be facing mild downward pressure and is likely to trade with a downside bias today. However, any decline is unlikely to reach the major support at 1.3320. Note that there is another support level at 1.3340. To sustain the mild downward pressure, GBP must hold below 1.3410, with minor resistance at 1.3395."

"1-3 WEEKS VIEW: On Monday (23 Mar, spot at 1.3320), we indicated that “the recent choppy price action has resulted in a mixed outlook.” We also indicated that GBP “could trade between the two major levels of 1.3220 and 1.3480." There is no change in our view. "

"1-3 MONTHS VIEW: A weekly close below the key support at 1.3300 could trigger a decline toward the major support zone at 1.2945/1.3010. (dated 06 Mar 2026, 1.3310)"

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)