Pound to Dollar Forecast

The British pound enters the new week with some positive technical momentum that leaves it looking constructive against both the Euro and Dollar, but the release of inflation figures midweek could challenge recent moves.

GBPUSD has seen a setback recently, but the uptrend is not yet invalidated.

The Bank of England will cut interest rates before the U.S. Federal Reserve and the European Central Bank, leading to a soft trajectory for the British Pound in 2024.

GBPUSD has had a solid run of late, rising 3.87% in November, but the first full week of the new month could be characterised by consolidation as investors await Friday's all-important U.S. jobs report.

Pound Sterling could be set for further gains against the Dollar into year-end with one market professional saying the stage looks set for a 'Santa Rally'.

Strategists at international payments firm Convera say the month of December could bring with it a break above the key 1.28 level for the Pound to Dollar exchange rate (GBPUSD).

The Pound to Dollar exchange rate is tipped by analysts to extend its uptrend over the coming days, although a busy economic release calendar in the U.S. could trigger volatility.

GBPUSD remains in a constructive technical setup that can see gains extend over the coming days which feature the Autumn Statement on Wednesday and the PMI survey for November on Thursday.

Following a run of five consecutive daily losses, it is hard to describe Pound Sterling's outlook against the Dollar as anything but soft.

The British Pound could be on course to record a fourth successive daily loss and the technical setup advocates for further declines, according to a new analysis.

GBPUSD's technical setup has improved notably following Friday's surge but any further upside progress will be tested by this week's UK GDP data release and speeches from the Bank of England's Andrew Bailey and the U.S. Federal Reserve's Jerome Powell.

The downtrend in the Pound to Dollar exchange rate (GBPUSD) is not complete, according to a new technical analysis conducted by Société Générale.

According to a new economic research update from Wells Fargo, the Bank of England will cut interest rates ahead of the U.S. Federal Reserve in a move that should propel the Pound to Dollar exchange rate firmly below 1.20.

The Pound could remain supported against the Dollar over the coming days as technical indicators suggest the selloff of recent weeks is becoming exhausted, but the Federal Reserve, Bank of England and U.S. labour market statistics form the major hurdles to any significant recovery.

GBPUSD technical outlook is improved, but key test comes on Tuesday with PMI release.

GBPUSD has flipped short-term bearish, 2023 lows a target for the near-term.

The Pound to Dollar exchange rate can extend higher in the short-term according to a new analysis released following the release of UK GDP data that showed a rebound in activity during August.

GBPUSD short-term outlook remains positive, but strength to be limited given broader USD dynamics.

"We maintain a bearish view on the GBP/USD outlook even if the selling looks quite extended on all time frames. If there is a bounce to be seen, this is likely to be short-lived. We reckon the cable could be heading to 1.20 and possibly 1.18 in the weeks ahead."

Recovery from oversold conditions can extend, 1.2350 a potential short-term target.