Pound Forecast

The Pound to New Zealand Dollar exchange rate remains in a broad multi-month uptrend but short-term is subject to a pullback.

GBPAUD extends recent pullback from highs as upside momentum wanes.

"The next area of possible support would be at around 1.242; if that doesn’t hold we could then see a reversion to the major low posted near the end of May, i.e. at 1.232 or so" - The Technical Trader.

GBPEUR) is forecast to remain supported above 1.16 over the coming days after a late-August pullback failed around 1.1620 and the subsequent rebound opens the door to another test of the 2023 highs.

Pound Sterling appears vulnerable to losses against the Dollar over the coming weeks of September according to a new analysis released at the start of the new month.

August has confirmed and bolstered the view that the Pound to Euro exchange rate has now entered a sideways pattern, but rising volumes and downside data surprises could break the range over the coming weeks.

An analyst we follow says he favours buying the Pound against the Euro at these levels on a tactical basis, but the Euro could benefit in the short term if inflation numbers beat expectations.

The U.S. Dollar can maintain its recent trend of appreciation helped by favourable seasonal trends and will be untroubled by a recent rating agency downgrade of U.S. debt, shows new research from JP Morgan.

Goldman Sachs foreign exchange strategists say they are still Pound Sterling bulls, but they have lowered their forecasts for the Pound to Euro exchange rate in the wake of the Bank of England's August decision.

GBPNZD remains in a strong uptrend, short- and medium-term favour gains, empty calendar leaves central bank divergence in focus.

GBPAUD remains in a clear uptrend that could ultimately allow for further advances to fresh highs over the coming weeks, although near-term weakness is possible over the coming days of August.

The British Pound's retreat from July highs against the Euro and Dollar could slow from here with one analyst saying the Bank of England's August policy decision and guidance had enough 'hawkish' elements to limit the prospect of further downside.

"August dull? Rangebound trading? Not a chance," says Kenneth Broux, a strategist at Société Générale, referencing the shakeup in U.S. bond markets that has in turn fed into a stronger dollar.

The broader backdrop is one that favours Pound sterling over euro, given the relatively elevated interest rate environment in the UK compared to the Eurozone.

GBPNZD starts the new week on the defensive but there is a high likelihood that losses will be recouped over the coming days.

The Pound to Euro exchange rate remains in the upper quartile of the year’s range but an action-packed economic calendar, bond markets and the Bank of England (BoE) interest rate outlook could each or all push the boundaries of an anticipated 1.1633 to 1.1662 range for the week ahead.

The Pound to Dollar exchange rate rose ahead of a key support level that must hold or risk a slide to 1.27, according to a new analysis.

GBPUSD can remain supported over the coming days with any weakness expected to invite fresh buying interest, according to a new technical analysis.

GBPNZD has been subject to a strong technical uptrend in 2023 and there is little evidence to suggest now is the time to bet on a meaningful reversal.

GBPAUD uptrend remains alive despite recent pullback.