**BREAKING: GBP/USD Holds Firm Above Key Support, Eyes 1.3700 Target**
The British pound maintained upward momentum against the US dollar Wednesday, trading at 1.3640 after clearing critical resistance levels, according to United Overseas Bank analyst Quek Ser Leang. The currency pair remains well-supported following its recent breakout, signaling continued bullish sentiment in sterling markets.
UOB forecasts immediate trading range boundaries between 1.3605 on the downside and 1.3670 to the upside during today’s session, though the headline suggests further potential toward the psychologically significant 1.3700 level. Traders and forex professionals should monitor these technical thresholds closely as cable consolidates recent gains.
The sustained strength in GBP/USD comes amid broader dollar weakness and reflects growing confidence in UK economic resilience. Currency desks are adjusting positioning as the pound builds on its technical breakout, with short-term resistance now providing a foundation for support.
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FXnCO Insight
** Traders should watch for a sustained break above 1.3670 as the gateway to testing 1.3700, while stops below 1.3605 protect against downside reversals in current market conditions.
Source: FXStreet