In recent forex analysis, the GBP/USD currency pair has encountered significant resistance at 1.2525, with further resistance predicted at 1.2600 by UOB Group’s economists. This marks a notable increase in momentum for the GBP, which has been trading in a range between 1.2330 and 1.2520 in the past week.

According to UOB’s 24-hour view, the upward momentum suggests further GBP strength, but breaking above 1.2525 may not be sustainable. On the downside, a break of 1.2445 would indicate that GBP is not strengthening further. Looking ahead to the next 1-3 weeks, UOB warns that breaking strong support at 1.2400 would indicate a failure of their view for a higher GBP.

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