Pound Forecast

GBP/EUR could extend a recent weak patch into the first part of March, particularly if the UK budget is not well received midweek and the European Central Bank strikes a hawkish tone on Thursday.

Pound Sterling edged lower against the Euro through the latter part of February, but we see ongoing resilience in March.

GBP/CAD is underpinned by constructive technical conditions and we doubt Thursday's Canadian GDP release will dent the pair's short-term upward progress.

GBP/AUD can move higher over the coming days thanks to a broadly constructive technical setup, however, any surprises in this week's Aussie inflation figures would invalidate this view.

"This week has a definite make-or-break feel about it as we head into the RBNZ MPS," says David Croy, a strategist at ANZ Bank, regarding the key event facing the New Zealand Dollar.

Pound Sterling is favoured over the Dollar this week thanks to an improved technical setup, a well-understood Fed rate cut repricing story and month-end flows.

Pound Sterling retains a constructive setup against the Euro, and further advances can be expected this week, but a strong Eurozone CPI print would likely boost the Euro.

One of Wall Street's biggest banks has raised its forecasts for the British Pound, saying it can benefit from its newfound status of "the USD of Europe".

GBP/CAD is pointed lower but can rebound amidst a broader USD pullback.

GBP/NZD is trending lower in the short term and the next target is seen at approximately 2.04; however, a strong UK PMI reading on Thursday could frustrate the move.

The Pound to Australian Dollar exchange rate is liable to weaken further over the coming days, although downside should remain relatively limited ahead of an eventual extension higher.

The Pound to Dollar exchange rate retreated further last week but the losses remain relatively constrained and we see the potential for some slight upside in the coming days.

The coming days suggest scope for a further retreat from recent highs.

The Pound to Canadian Dollar exchange rate (GBP/CAD) remains well supported on a technical basis, according to a new analysis from a leading Canadian bank.

GBP/AUD technical setup advocates for further gains, but coming days could see a small pullback.

Canadian Dollar exchange rates are looking increasingly constructive as markets fade bets for an imminent rate hike at the Bank of Canada amidst fears of persistently sticky Canadian wage pressures.

GBP/NZD finding support at 50-day moving average, but, more broadly, technicals are breaking down as RBNZ rate hike bets rise.

The Pound to Dollar exchange rate remains well supported and the coming week's heavy UK and U.S. economic calendars could offer the chance of a return to the 1.27 level.

The Pound to Euro exchange rate remains well supported by an abundance of technical support levels, but it will take a blow-out set of UK economic data releases to deliver fresh 2024 highs in the coming week.

"We may now be entering a period of euro weakness, like what we saw in 2013-2015."