Currency markets: AUD and GBP show varying momentum against US Dollar

United Overseas Bank (UOB) analysts report varying momentum for the Australian Dollar and British Pound against the US Dollar.

The Australian Dollar (AUD/USD) has seen a sharp rally, recently climbing to 0.7180. While analysts note the move may appear stretched, they expect strength to persist toward the 0.7200 resistance level, provided the currency holds above the 0.7105 support level.

In contrast, the British Pound (GBP/USD) is currently experiencing a period of short-term consolidation. Following an overbought push, price action has been confined between 1.3620 and 1.3665. Despite this consolidation, the medium-term outlook remains positive, with analysts targeting 1.3700 unless the pair falls below the 1.3585 support level.