Pound Forecast

Pound Sterling retains an upward bias favouring patience for those looking to buy euros, say technical analysts at leading investment banks.

GBP/NZD is trending higher, and we see little reason to stand in the way of a setup that favours modest gains in the coming days.

The Pound to Australian Dollar exchange rate (GBP/AUD) is supported, but there is limited prospect of a sizeable appreciation in the near future.

Pound Sterling looks set to remain on the defensive against the Euro, and we could see sub-1.30 levels again in the coming five days.

Pound Sterling is in an uptrend against the Euro that looks set to extend in the coming five days; however, beware of volatility around Bank of England speeches and Thursday's PMI release.

The British Pound trades higher against the Dollar in the wake of Friday's retail sales data, but the risks are still tilted to the downside.

The Pound is richly valued against the Australian Dollar and could fall.

GBP/CAD is forecast to maintain its broader uptrend in the coming days.

Pound Sterling is forecast to maintain a bullish trend against the New Zealand Dollar in the short term, although roadbumps ahead include inflation numbers out of both the UK and NZ.

GBP/AUD is forecast to probe the upper end of a short-term range in the coming days, thanks in part to disappointment over weekend events in China.

The prospect of a meaningful rebound in the Pound to Dollar exchange rate (GBP/USD) looks a remote prospect for the coming days.

GBP/EUR faces downside risks this week as any misses in inflation or wage numbers will be jumped on. And don't forget the ECB's interest rate decision on Thursday.

The big banks have raised their forecasts for the Pound against the Dollar into year-end.

Pound Sterling's decline against the Dollar is not a mere correction and looks set to run for at least half a year.

The Pound is prone to further short-term weakness against the Canadian Dollar in the near term.

The Pound to Dollar exchange rate fell 2.0% last week and still looks heavy, but a limited rebound is possible in the coming days.

Our Pound to Euro Week Ahead Forecast looks for 1.19 to act as gravity but for weakness to be limited below here.

Year-to-date, the GBP/USD is up about 5.3%. While the potential to extend these gains is there, the cable is now less than 70 pips away from testing a key long-term resistance zone between 1.3500 and 1.4000.

The Pound continues its march higher against the Canadian Dollar and our Week Ahead Forecast model won't fight the trend.

Of all the GBP exchange rates we monitor in our Week Ahead Forecast coverage, GBP/NZD is looking the most bearish.