GBP Faces Key Support at 1.3445

The Pound Sterling (GBP) is approaching a significant support level at 1.3445 against the US Dollar (USD). Current market conditions suggest that while this level might be tested, a clear break below is unlikely.

Experts from UOB Group highlight the oversold conditions in the longer run, indicating that the outlook for GBP remains somewhat negative. Should the support hold, it could provide traders with a trading opportunity to capitalize on potential rebounds.

Staying alert to market movements around this key level will be essential for traders engaged with GBP/USD.