Foreign exchange analysts at Credit Agricole are cautious on the British Pound, forecasting further weakness against both the Euro and US Dollar as UK political uncertainty and fading Bank of England rate-hike expectations undermine Sterling's appeal. At current levels, GBP/USD trades around 1.3456, but Credit Agricole forecasts the.
Pound Sterling Price News & Forecast: GBP/USD holds minor gains after rebounding from intraday lows
The ongoing US-Iran ceasefire and gradual normalization of oil flows supported improved risk appetite. DXY showed consolidation in its ascending channel while EUR/USD tested key support and GBP/USD defended rising channel floor.
GBP/USD Price Forecast: Broader trend remains sideways amid Triangle formation
The Pound to Dollar (GBP/USD) exchange rate traded in a narrow range on Thursday as a weaker-than-expected US growth revision offset safe-haven demand for the US Dollar amid renewed Middle East tensions. At the time of writing, GBP/USD was trading around $1.34408, down just 0.02% on the day.
The Pound to New Zealand Dollar (GBP/NZD) exchange rate remained under pressure on Friday as stronger New Zealand confidence data and lingering Reserve Bank of New Zealand rate hike expectations continued to underpin the ‘Kiwi'. At the time of writing, GBP/NZD was trading around NZ$2.2556, down 0.27% on the day and close to its lowest.
GBP/USD is attempting to recover after a sharp pullback from the monthly highs, with price now approaching the first major resistance zone since the decline began. The rebound has stabilized near-term momentum, but the broader outlook remains vulnerable while the pair trades below key resistance.
British Pound: Political fractures weigh against US Dollar – Rabobank
Pound Sterling Price News and Forecast: GBP/USD resumes decline
GBP/USD Price Forecast: Resumes decline after facing selling pressure above 20-day EMA
The ongoing US-Iran ceasefire and gradual normalization of oil flows supported improved risk appetite. DXY showed strong continuation in its ascending channel while EUR/USD tested key resistance and GBP/USD defended rising channel floor.
British Pound recovers against US Dollar; outlook remains weak due to Iran worries