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

The Pound to Dollar exchange rate has rallied to its highest since April 2022 but it now faces headwinds in the form of formidable technical resistances around 1.3108 and 1.3240 and might be lucky if it holds 1.30 this week in the event of any rebound from the greenback over the coming days.

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.

The Pound to Dollar exchange rate has rallied back to retest 15-month highs in recent trade but the risk is of economic data conspiring with nearby technical resistance on the charts to stall or otherwise sap momentum from its recovery in the days ahead. 

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 Pound to Dollar exchange rate relinquished some of its June gains around the turn of the month but with technical support emerging around 1.26, it could be likely to consolidate between there and a nearby pocket of resistance around 1.2850 this week.

Commerzbank, a leading financial institution, has warned that Pound Sterling is poised for a prolonged and significant decline against both the Euro and the Dollar.

JP Morgan is Bullish USD heading into the second half of the year and identifies Pound Sterling as a candidate to absorb much of this strength.

GBP/USD stalled by resistance near 1.2850 on chart, risks corrective losses back toward 1.2621 or below.

The British Pound should remain supported says Goldman Sachs in an analysis of the currency's outlook that follows last week's Bank of England's decision to raise interest rates by 50 basis points.

GBP/USD testing cluster of resistances at 1.2867 & 1.2877 on chart, Bank of England is key risk this week.

The British Pound's stellar 2023 will ultimately unravel at some point in the coming weeks as the UK economy begins to underperform rivals say BNP Paribas in a new currency forecast note.

GBPUSD could be at risk of retreating back to 1.20 over the coming weeks according to a new technical analysis from Bank of America, however, nearer-term studies suggest further consolidation nearer 1.24.

A number of foreign exchange analysts we follow have over recent hours revealed research that shows the British Pound is set for a period of weakness as the UK economy enters a slowdown in the second half of the year, led by the housing market.

The Pound to Dollar exchange rate rallied through much of last week but its recovery was curtailed on Friday and the risk is now of a consolidation leading to a retest of technical supports near and around the 1.23 level.

The Pound to Dollar exchange rate entered the new week near two-month lows but could attempt to pare away some of its recent losses if calm returns to government bond markets on both sides of the Atlantic in the days ahead.

Pound Sterling is still screening overvalued and remains vulnerable to further losses according to strategists at one of Wall Street's largest banks.