GBP/USD: Rebound continues, but gains remain capped – UOB

GBP/USD Shows Modest Rebound, Faces Resistance

UOB’s Quek Ser Leang notes that GBP/USD has bounced back to 1.3364 and could inch up toward 1.3410. However, with only limited momentum, a decisive move above this resistance is not anticipated. For now, intraday advances are likely to remain capped below 1.3390, while support is found at 1.3335 and 1.3320. Looking further ahead, a weekly close under 1.3300 may open the door for a deeper drop toward the 1.2945–1.3010 area.

Pound Maintains Gains Within Resistance Levels

In the previous session, GBP was expected to fluctuate between 1.3250 and 1.3350. The currency dipped to 1.3274 before climbing to a peak of 1.3364. While there is potential for further gains today, the lack of strong upward momentum suggests that any rise will likely stall before reaching 1.3390, with another resistance at 1.3375. On the downside, immediate support lies at 1.3335 and 1.3320.

Short- to Medium-Term Outlook

Last Friday, with GBP at 1.3350, it was suggested that a sustained move below 1.3325 would increase the odds of a decline toward last week’s low of 1.3255. After falling to 1.3220, the outlook turned negative, with attention shifting to 1.3180 as a key level. However, GBP has since rebounded for two consecutive days, surpassing the strong resistance at 1.3350 and negating the bearish view. The slight uptick in momentum could push GBP toward 1.3410, but a clear break above this point remains unlikely unless the currency holds above the strong support at 1.3270.

Should GBP end the week below the crucial 1.3300 support, it may trigger a move down toward the significant support range of 1.2945 to 1.3010. (Analysis as of 06 Mar 2026, GBP/USD at 1.3310)