UOB strategists Quek Ser Leang and Lee Sue Ann note that GBP/USD briefly broke above 1.3480 before retreating to the mid?1.33s, suggesting a near?term consolidation band between 1.3350 and 1.3450. Over the next one to three weeks, upside risks remain in place, but a sustained move toward 1.3520 requires a daily close above 1.3480 while 1.3280 holds as strong support.

Pound needs confirmation above resistance

“GBP appears to have moved into a consolidation phase. Today, we expect GBP to trade between 1.3350 and 1.3450.”

“The upside risk remains intact, but GBP must close above 1.3480 before a move to 1.3520 can be expected. The likelihood of GBP closing above 1.3480 will remain intact as long as 1.3280 (no change in ‘strong support’ level) continues to hold.”

“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.)

Source: https://www.fxstreet.com/news/gbp-usd-upside-risk-hinges-on-13480-close-uob-202604090756

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