Pound Gains Momentum Against Dollar as UOB Chart Analysis Points Higher
UOB strategist Quek Ser Leang says GBP/USD could recover toward 1.3480, the top of the daily Ichimoku cloud, as sterling trades near 1.3374.
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what happened
Sterling is showing building upward pressure against the US dollar, according to a daily chart analysis cited by Market Talk from UOB Global Economics & Markets Research strategist Quek Ser Leang. The currency's rebound has picked up speed quickly, and on Tuesday the pound closed above its 55-day exponential moving average for the first time in several weeks.
By the analyst's assessment, if this momentum holds, the pound-dollar pair could move back toward the top of the daily Ichimoku cloud, currently at 1.3480. The pound itself is barely changed, trading at 1.3374 according to LSEG data.
why it matters
For markets this is a technical view rather than a fundamental signal, so its importance is moderate. Still, a close above the 55-day average often draws attention from traders working with sterling and dollar pairs. It is worth watching whether the currency can hold above key levels and how UK and US economic data arrive, since these can shift sentiment faster than any chart scenario.
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instruments
sources
- British Pound Shows Increasing Upward Momentum Vs. Dollar — Market Talk, 21 October 2026 at 03:23 UTC
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