Week Ahead Pound-to-Dollar Exchange Rate

The Pound-to-Dollar rate closed out its worst week since the financial crisis on Friday as financial markets continued to hemorrhage capital, although the charts are still tipping the exchange rate lower while few if any fundamental analysts see the Dollar weakening any time soon,

The Pound-to-Dollar rate closed its worst week since the Brexit referendum Friday after suffering a near-6% loss but it faces a pickup in volatility as national 'epidemic curves' rise and fall in the week ahead and ultimately, the risk of further steep declines as the UK epidemic gathers pace. 

The Pound-to-Dollar rate is on cusp of a breakout to the upside on the charts after overcoming a key resistance level in the Friday session, which could ultimately see the exchange rate retest its December highs over the coming weeks.

The Pound-to-Dollar rate came under mounting pressure heading into the weekend and has now broken a multi-month uptrend on the charts, creating a bearish technical picture on the charts just as the evolving coronavirus not-pandemic threatens to weigh disproportionately on Sterling. 

The Pound has suffered another setback against the Dollar and now the technical outlook is all to play for although some fundamental analysts are suggesting the acrimonious tone of talks between the UK and EU could soon weigh heavier on Sterling. 

The Pound-to-Dollar rate rose sharply last week and the charts are suggesting that further gains could be in the pipeline, although a raft of important economic figures will test the market's appetite for the British curency over the coming days.

The Pound fell and closed below a key support level against the Dollar on Friday in a bearish technical development that could now see it slide back toward October 2019 levels over the coming days.

The Pound was the best performing major currency last week and is tipped by technical analysts to advance on the Dollar over the coming days, although fundamental risks include a likely Monday collapse in Chinese stock markets and elevated British bond yields that might be due a correction. 

The Pound closed the Friday session having become the second best performing major currency of the week although there could be further gains in store for the coming days if studies of the charts and the market's evolving view on the Bank of England (BoE) outlook are anything to go by.

The Pound ceded ground to the Dollar and underperformed all major rivals of late although the charts are flagging more downside potential ahead of jobs and PMI data due out this week, which will be key to the outlook for Sterling.

The Pound made good time out of the starting block last week but was lower against the mighty Dollar by the close on Friday, although it's now near to a key support level on the charts and will driven mostly in the coming days by economic data from both sides of the Atlantic. 

The Pound-to-Dollar rate found support on the charts late Friday after receiving a drubbing early in the New Year, although technical analysts at Commerzbank say retains an upside bias and that a retest of its 2019 election highs cannot be ruled out for the days and weeks ahead.

The Pound hit repeated new multi-month highs against the Dollar in recent days after cracking a tough level of resistance on the charts although Thursday's general election is now looming over the British currency and even technical analysts are warning of a possible retreat in the Pound-Dollar rate.

The Pound rose almost one percent against the Dollar last week and is poised for further gains ahead, according to analysts studying the charts, although election headlines have turned into a headwind and could weigh on the British currency in the days ahead while the Dollar is being tippped to remain on its front foot. 

The Pound-to-Dollar rate retains an upside bias on the charts and could still reclaim its May 2019 high in the weeks ahead, according to technical analysts at Commerzbank, although a narrowing Conservative Party lead in the opinion polls is a risk to the British currency. 

The Pound-to-Dollar rate will remain on its front foot this week but although gains will be limited a series of 'resistance levels' on the charts, according to technical analysts studying the charts, although others are warning that Sterling would be likely to retreat if the Conservative Party poll lead shrinks at any point.

Studies of the GBP/USD charts suggest immediate mild weakness on the horizon followed by a sideways trend and the possibility of eventual upside in the long-term.

Studies of the GBP/USD charts suggest the short-term uptrend will probably extend, particularly now a break above the major trendline has been confirmed.

Studies of the GBP/USD charts suggest a multi-week uptrend will likely eventually extend, however technical studies suggest the exchange rate might struggle in the immediate-term while rising political uncertainty will provide the fundamental backdrop for steering clear of Sterling.

The Pound-to-Dollar exchange rate is trading at 1.2974 at the start of the new week after rising 2.61% in the week before. Studies of the charts suggest the pair is likely to continue higher as the short-term uptrend extends.