FXStreet reports that FX Strategists at UOB Group said that cable’s upside momentum carries the potential to re-test the mid-1.3900s in the short-term horizon.

24-hour view: Our expectation for GBP to move above 1.3915 yesterday did not materialize as it dropped to 1.3845 before snapping back up to 1.3912. The underlying tone still appears to be a tad firm and we continue to see chance for GBP to move above 1.3915. Barring a strong surge in momentum, the next resistance at 1.3955 is likely out of reach. On the downside, a breach of 1.3850 (minor support is at 1.3875) would indicate that the current mild upward pressure has eased.”