The GBP/USD currency pair has slipped recently but lacks strong downside momentum, according to United Overseas Bank’s Quek Ser Leang, as reported by FX Street. The pair is forecasted to trade within a relatively broad intraday range between 1.3420 and 1.3475.
Earlier bullish sentiment has diminished following a break below the 1.3450 support level, with the cable now seen fluctuating within a wider range of 1.3385 to 1.3495. This suggests a period of consolidation without clear directional bias in the near term.
For Japanese investors, the GBP/USD's current range-bound behavior underscores the importance of cautious positioning amid mixed signals in global FX markets, especially as volatility remains subdued.