FXStreet reports that UOB Group’s FX Strategists noted that cable’s bullish prospects remain unchanged in the short-term.

Next 1-3 weeks: “In our latest narrative from last Wednesday, we highlighted that ‘upward momentum has improved considerably and GBP could extend its gains to 1.3880’. GBP is currently holding just below 1.3880 and break of this level would shift the focus to 1.3950. That said, overbought shorter-term conditions suggest that it may take a few days for 1.3950 to come into the picture. Overall, the current positive view in GBP is deemed intact as long as it does not move below 1.3780 (‘strong support’ level previously at 1.3730).”