GBP/USD could extend the upside to 1.4450/60 – UOB

The upside momentum in GBP/USD could pick up further pace towards the mid-1.4400s, suggested analysts at UOB Group.

Key Quotes

“Improving short-term momentum suggests that a test of the top-end of our expected 1.4000/1.4350 range will not be surprising”.

“However, the overall outlook is mixed and even a break above 1.4350 is not expected to move significantly above the late March high of 1.4455/60”.

“Yesterday’s low of 1.4130/35 is acting as a strong support and this level should hold, at least for the next few days”.