GBP/USD upward momentum is building — UOB

UOB strategists Quek Ser Leang and Lee Sue Ann stated that GBP/USD has rebounded strongly from recent lows, invalidating the previous downside bias. It is expected that the pound will gradually rise towards nearby resistance levels, but the upside is likely to be moderate and will require holding key support levels to be realized. A decisive break above the initial ceiling is needed for a clear move toward higher targets.