Pound Forecast

GBP/EUR is consolidating near the top of its range and another retest of the 1.1750 area is possible if this week's data surprises to the upside and the Bank of England repeats that it's too soon to consider cutting interest rates.

Pound Sterling can go higher against the Euro, supported by fundamentals that include attractive valuations, an interest rate buffer, and upside risks from the upcoming general election.

The Pound to Dollar exchange rate's recent setback has been shallow and the broader backdrop remains supportive, says Fawad Razaqzada, an analyst at City Index.

Pound Sterling's rise against the Euro can extend into the coming months and reach a peak comfortably above €1.20, supported by a strong carry advantage and a waning Brexit premium.

GBP/CAD kissed a new two-year high at the start of the new week, but is now pulling back.

GBP/NZD was rejected at a key resistance level and we look for the subsequent pullback to extend into the next few days.

The Pound to Australian Dollar exchange rate hit a new 2024 high at 1.9553 last week but ultimately capitulated and ended the week flat, raising the odds of a softer trading conditions in the coming week.

Pound Sterling could hit fresh multi-month highs against the Dollar this week, underpinned by positive technicals. However, any undershoot in UK wage data - or overshoot U.S. inflation data - could prompt a sharp pullback.

GBP/EUR close to fresh multi-month highs, but significant resistance blocks the way.

Bank of America has just released a call to buy the Pound-Dollar exchange rate (GBP/USD), citing the UK's Spring Budget announcement.

Selling the Euro against Pound Sterling still makes sense following Thursday's European Central Bank (ECB) policy update, according to strategists at MUFG Bank.

An analyst at Société Générale says the Euro to Pound exchange rate's daily chart hints at a major reversal playing out.

What a difference a week can make: when we published our previous week ahead forecast last Monday, the Pound to New Zealand Dollar setup was distinctly bearish.

GBP/AUD is firm at the start of week packed with Australian data releases and the UK's midweek budget.

Pound Sterling has held up better against the dollar than most in 2024, but this resilience will be tested on Friday when a crucial U.S. jobs report is released.

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.