Pound Forecast

GBP/CAD's near-term technical outlook is "shaping up positively", according to a new analysis.

Investment bank Goldman Sachs has lowered its forecasts profile for the British Pound, saying expectations for future UK interest rate levels are less supportive than was previously the case.

The Pound's near-term setup against the Canadian Dollar is one of consolidation but with an eventual upside bias.

GBP/NZD can come under further pressure in the near term as global markets become more confident the Federal Reserve can cut interest rates in 2024.

The Pound to Dollar exchange rate's late-week slump is an ominous sign and points to the potential for losses in the coming days.

The Pound to Euro exchange rate could drop towards the April lows if this week's Bank of England guidance and forecasts point to a June interest rate rise.

The Pound to Canadian Dollar exchange rate's technical setup looks supportive of further near-term gains, but much will depend on this week's Macklem speeches and the U.S. payroll report.

The Pound to Australian Dollar exchange rate is breaking down and technical studies show a higher likelihood of further losses in the coming days.

GBP/NZD remains in a multi-week uptrend but could decline in value over the coming five days. Tuesday's local jobs report and Friday's U.S. labour report will be the week's two relevant highlights.

In the coming days we look for the GBP/EUR recovery to consolidate above 1.1650 with a potential test of figures above 1.17 in the event of soft Eurozone inflation numbers.

The Pound to Dollar exchange rate recovered last week but was unable to hold 1.25, and a hawkish Federal Reserve update and a strong payroll print could result in more of those gains being returned.

The Bank of England is turning dovish as there is further disinflation in the pipeline in the UK, which should keep the Pound under pressure.

The Pound's outlook against the Canadian Dollar has undergone a significant shift in fortunes, potentially tilting from an upside bias to a downside bias in the space of just two days.

The Pound is near its April lows against the New Zealand Dollar following Friday's selloff, but we look for support to kick in again.

The Pound to Australian Dollar exchange rate is teetering above the key 200-day moving average (DMA) as we write on Monday; it must stay above here if a positive technical setup is to remain entrenched.

The Pound to Euro exchange rate is forecast to recover last Friday's losses over the course of the coming week, but much will depend on the release of UK and Eurozone PMI figures for April.

The Pound to Dollar exchange rate is forecast to recover recent losses in the coming week, with focus falling on UK PMI data and U.S. PCE inflation numbers.

GBP/NZD could be turning higher again amidst solid technical support and deteriorating global investor sentiment, but inflation data from both New Zealand and the UK could provide two-way volatility this week.

While the Australian Dollar still looks vulnerable to a further deterioration in market sentiment, but buoyant global commodity prices and a strong domestic jobs report should limit the downside in the coming weak.

The Dollar is in charge, but the pace of recent advances could be a case of 'too fast, too soon' and a pullback could be on the cards this week.