Pound Forecasts

The British Pound's retreat from July highs against the Euro and Dollar could slow from here with one analyst saying the Bank of England's August policy decision and guidance had enough 'hawkish' elements to limit the prospect of further downside.

"August dull? Rangebound trading? Not a chance," says Kenneth Broux, a strategist at Société Générale, referencing the shakeup in U.S. bond markets that has in turn fed into a stronger dollar.

The broader backdrop is one that favours Pound sterling over euro, given the relatively elevated interest rate environment in the UK compared to the Eurozone.

GBPNZD starts the new week on the defensive but there is a high likelihood that losses will be recouped over the coming days.

The Pound to Euro exchange rate remains in the upper quartile of the year’s range but an action-packed economic calendar, bond markets and the Bank of England (BoE) interest rate outlook could each or all push the boundaries of an anticipated 1.1633 to 1.1662 range for the week ahead.

The Pound to Dollar exchange rate rose ahead of a key support level that must hold or risk a slide to 1.27, according to a new analysis.

GBPUSD can remain supported over the coming days with any weakness expected to invite fresh buying interest, according to a new technical analysis.

GBPNZD has been subject to a strong technical uptrend in 2023 and there is little evidence to suggest now is the time to bet on a meaningful reversal.

GBPAUD uptrend remains alive despite recent pullback.

A surge in momentum behind GBPUSD should take it higher and it is too early to expect a material pullback on a technical basis, according to a new analysis.

Strategists at HSBC went against the consensus in late 2023 and forecast a rise in the value of the currency. So, where does the team that got it right see the Pound moving over the coming weeks and months?

The British Pound reached a fresh 2021 high and another key figure at 1.31 on Thursday as the strong rally ignited by the release of softer-than-expected inflation data the previous day extended.

The march higher in the Pound to Dollar exchange rate reaches a key milestone as the 1.30 level comes into view, but overbought conditions are flashing.

Goldman Sachs raises its Pound to Euro exchange rate forecast saying the UK currency's recent strength "has staying power".

GBPNZD in a technical uptrend, 2023 highs can be retested and broken, but UK jobs report on Tuesday and RBNZ on Wednesday are risks.

The Pound to Euro exchange rate entered the new week near mid-June highs just above 1.17 but might most likely consolidate between there and somewhere around the 1.16 level in the days ahead unless Sterling is able to find reasons for excitement in the UK's latest employment and GDP figures. 

GBPAUD uptrend remains intact, further gains towards 2.0 possible if key level breaks.

GBPEUR exchange rate looks to test the 1.17 level over the coming hours and should remain supported over the coming month - data allowing - with further tests of the 2023 high probable if the May-July trend of appreciation remains intact.

GBPUSD remains subject to a bullish technical outlook according to a new analysis from City Index, the retail trading institution, in a call that offers some context to the recent pullback and consolidation.

The New Zealand Dollar begins the new week with a notable gain against most G10 currencies, extending its upward momentum from Friday, supported by a firm Asian equity market session and positive investor sentiment.