Understanding the British pound's role is crucial as we delve into the GBP forecast for 2024 and beyond. Esteemed for its stability and deep ties to the UK economy, GBP distinguishes itself in the global financial market. Our insights will navigate the nuanced GBP to USD forecast, spotlighting exchange rates and economic indicators. This information will serve as a vital tool for leveraging your financial strategies, ensuring you're equipped to harness the potential of this asset.
What Should You Know About the British Pound (GBP)?
GBP price forecast for tomorrow and the next weeks
GBP Historical Price Movements
How to predict the price of GBP
The British pound (GBP), or pound sterling, is a cornerstone of the forex market. When paired with the dollar, this currency reflects a dynamic interplay influenced by global events, economic indicators, and central bank policies, notably those of the Federal Reserve.
Understanding GBP requires a close eye on some factors:
In 2023, the British pound (GBP) showcased notable price movements against the US dollar.
Starting the year at 1.2050 USD in January, the currency pair steadily climbed, reaching a peak of 1.3135 USD in July. However, it saw a minor dip in the second half of the year. By September, the average was at $1.2384. December ended on a positive note, with a recovery to $1.2664.
Average GBP/USD rate in 2023 | 1.2440 |
Highest GBP/USD rate in 2023 (July) | 1.3135 |
Lowest GBP/USD rate in 2023 (March) | 1.1830 |
The short-term pound-to-dollar prediction shows that the rate is expected to fluctuate slightly but stay at approximately the same level. As of February 1, 2024, the GBP/USD rate is 1.266, showing a small decline from the previous day's level. The next-day GBP/USD forecast is in the table below:
Date | Rate |
---|---|
02 February 2024 | 1.267 |
03 February 2024 | 1.267 |
04 February 2024 | 1.267 |
05 February 2024 | 1.266 |
06 February 2024 | 1.264 |
07 February 2024 | 1.264 |
08 February 2024 | 1.264 |
09 February 2024 | 1.264 |
10 February 2024 | 1.264 |
11 February 2024 | 1.264 |
12 February 2024 | 1.263 |
13 February 2024 | 1.261 |
14 February 2024 | 1.261 |
15 February 2024 | 1.261 |
For 2024, the GBP forecast appears divided. Expected interest rate cuts by the ECB and Federal Reserve could boost the British pound, reaching 1.30 GBP to USD by year-end. Yet, some analysts predict a fall below 1.20.
Goldman Sachs expects a stronger GBP, forecasting 1.25 GBP to USD in three months and maintaining 1.30 for six and twelve months.
On the contrary, Societe Generale expresses concerns over the European economy, hinting that without significant growth, the GBP and Euro may lag behind the US dollar.
ING predicts a gradual increase of the GBP/USD forex pair to 1.23 and then 1.28 by year-end, contingent on the Bank of England's monetary policy aligning with inflation targets.
Here is a more detailed month-by-month UK pound outlook provided by WalletInvestor.
Period | Minimum Rate | Maximum Rate | Average |
---|---|---|---|
March 2024 | 1.255 | 1.260 | 1.2575 |
April 2024 | 1.260 | 1.274 | 1.2670 |
May 2024 | 1.264 | 1.274 | 1.2690 |
June 2024 | 1.266 | 1.275 | 1.2705 |
July 2024 | 1.263 | 1.275 | 1.2690 |
August 2024 | 1.255 | 1.276 | 1.2655 |
September 2024 | 1.247 | 1.257 | 1.2520 |
October 2024 | 1.243 | 1.247 | 1.2450 |
November 2024 | 1.239 | 1.245 | 1.2420 |
December 2024 | 1.233 | 1.245 | 1.2390 |
The pound-dollar prediction for 2025 is more challenging. It hinges on global economic trends and UK fiscal policies. Stability in the UK economy could lift the GBP, possibly surpassing current levels. However, global uncertainties may impact this outlook, making it essential to monitor key economic indicators for more precise predictions.
According to Longforecast, the GBP to USD rate will be subject to considerable fluctuations, reaching 1.410 in mid-year, yet dropping to 1.293 as the year ends.
Month | High-Low | Total |
---|---|---|
January | 1.280-1.324 | 2.8% |
February | 1.304-1.356 | 5.3% |
March | 1.286-1.336 | 2.9% |
April | 1.306-1.350 | 4.8% |
May | 1.313-1.353 | 5.0% |
June | 1.333-1.394 | 8.2% |
July | 1.373-1.431 | 11.1% |
August | 1.347-1.410 | 7.8% |
September | 1.307-1.368 | 4.6% |
October | 1.307-1.347 | 4.6% |
November | 1.268-1.327 | 1.4% |
December | 1.274-1.312 | 1.9% |
Coincodex has a similar opinion. They expect the GBP/USD rate to see a year-low of $ 1.236823 and reach a year-high of $ 1.368368.
WalletInvestor is more reserved about their pound to dollar prediction. They expect this currency pair to fluctuate during 2025 without any significant highs and lows, keeping the range of 1.206 - 1.239.
By 2026, the British pound may see varied trends against the dollar.
WalletInvestor has a bearish outlook for this forex pair, with a price ranging from 1.160 to 1.202. A month-by-month forecast is in the table below.
Period | Minimum Rate | Maximum Rate |
---|---|---|
January 2026 | 1.195 | 1.198 |
February 2026 | 1.188 | 1.197 |
March 2026 | 1.181 | 1.187 |
April 2026 | 1.187 | 1.201 |
May 2026 | 1.191 | 1.200 |
June 2026 | 1.193 | 1.201 |
July 2026 | 1.190 | 1.202 |
August 2026 | 1.181 | 1.201 |
September 2026 | 1.175 | 1.183 |
October 2026 | 1.169 | 1.174 |
November 2026 | 1.166 | 1.172 |
December 2026 | 1.160 | 1.172 |
Longforecast expects the GBP/USD pair to enter a downtrend in 2026.
Month | Low-High | Total,% |
---|---|---|
January | 1.235-1.293 | -1.2% |
February | 1.210-1.254 | -3.2% |
March | 1.208-1.244 | -3.4% |
April | 1.201-1.237 | -3.9% |
May | 1.218-1.256 | -2.5% |
June | 1.188-1.237 | -5.0% |
July | 1.206-1.243 | -3.5% |
August | 1.182-1.225 | -5.4% |
September | 1.169-1.205 | -6.5% |
October | 1.176-1.212 | -5.9% |
November | 1.145-1.194 | -8.4% |
December | 1.162-1.213 | -5.8% |
Coincodex predictions provide a negative outlook for the pound to dollar rate as well. The year-low price is expected to be $ 1.164101, while the year-high is going to reach $ 1.268078.
For 2027, experts are split on the GBP forecast. Some anticipate a continued downtrend, while others see the potential for a slight positive shift in value.
WalletInvestor believes that a negative trajectory for the pound-to-dollar forecast will continue, with the pair rate dropping to around 1.123 by the end of 2027.
Coincodex has even more tragic views on GBP/USD price movements. They expect the rate to drop to a year-low of $ 0.967.
Longforecast, in contrast, has a more optimistic prediction, with the pound-to-dollar rate recovering to 1.305 by the end of 2027.
Month | High-Low | Total |
---|---|---|
January | 1.180-1.216 | -5.6% |
February | 1.167-1.203 | -6.6% |
March | 1.185-1.223 | -5.0% |
April | 1.190-1.226 | -4.8% |
May | 1.208-1.258 | -2.4% |
June | 1.239-1.294 | 0.5% |
July | 1.260-1.298 | 0.8% |
August | 1.222-1.279 | -2.2% |
September | 1.241-1.286 | -0.2% |
October | 1.267-1.325 | 2.8% |
November | 1.292-1.332 | 3.4% |
December | 1.266-1.312 | 1.3% |
For 2028, most experts foresee the GBP rate fluctuating around the same level as the previous year. However, it’s crucial to note that long-term predictions carry inherent uncertainties and can’t be taken for granted.
WalletInvestor predicts the GBP/USD to fluctuate between 1.086 - 1.128 throughout 2028, with minor ups and downs.
Period | Minimum Rate | Maximum Rate |
---|---|---|
January 2028 | 1.121 | 1.124 |
February 2028 | 1.114 | 1.124 |
March 2028 | 1.107 | 1.114 |
April 2028 | 1.113 | 1.128 |
May 2028 | 1.117 | 1.127 |
June 2028 | 1.119 | 1.128 |
July 2028 | 1.116 | 1.128 |
August 2028 | 1.108 | 1.128 |
September 2028 | 1.100 | 1.110 |
October 2028 | 1.096 | 1.100 |
November 2028 | 1.092 | 1.098 |
December 2028 | 1.086 | 1.098 |
CoinCodex predicts a range from a minimum of $0.959514 to a maximum of $1.083317. Long Forecast, however, expects the price to hover around 1.28 in the first half of 2028.
Technical analysis is an important tool that helps traders understand the potential moves of the forex market.
Technical indicators and Moving Averages on the weekly and monthly charts show strong buy signals for the GBP/USD pair.
When having a closer look at some specific technical analysis tools, the picture is also bullish.
Name | Value | Action |
---|---|---|
RSI(14) | 59.185 | Buy |
STOCH(9,6) | 77.382 | Buy |
STOCHRSI(14) | 99.904 | Overbought |
MACD(12,26) | 0.008 | Buy |
The GBP's journey through recent years is a story marked by resilience and unexpected turns:
Here's a table with the average GBP/USD historical price year by year:
Year | Average GBP/USD |
---|---|
2018 | 1.334 |
2019 | 1.276 |
2020 | 1.284 |
2021 | 1.378 |
2022 | 1.357 |
There are multiple factors that make the GBP price go up or down. Here are the most important ones:
Forecasting the GBP's movements against the USD is challenging, given the volatility of market swings and the ever-changing political and economic landscape. While diving into trend analysis and keeping an eye on the central bank's moves offers some clarity, the unpredictable twists and turns make these forecasts more of a roadmap than a guaranteed plan. Staying informed and adaptable is key to navigating pound/dollar predictions.
The British pound is a big deal in currency trading. What happens to it depends on a lot of things. These include changes in the global economy and UK budget plans. The USD to GBP forecast over the next few years is mixed. Some experts think it will gain value. Others are more careful in their forecasts.
If you're thinking about adding pounds to your investments, do your homework first. Look at charts and set clear rules on risk. That way you're not just following dollar to pound predictions without thinking. You'll make better choices since the world economy can be unpredictable.
The pound's future value is uncertain, influenced by factors like UK inflation, global economic shifts, and central bank policies. Analysts are divided: Goldman Sachs expects a stronger GBP in 2024, while Societe Generale predicts that the GBP could lag behind the US dollar.
The pound could go up in value next year. Forecasts depend on the UK economy's growth, the Bank of England's interest rates, and global markets. ING thinks the pound will climb from 1.23 to 1.28 to the dollar by end of 2024. But Societe Generale is more pessimistic.
As of February 2024, one British pound equaled 1.266 US dollars. This rate changes daily based on economic news, US Federal Reserve updates, political events, etc. Exact predictions day to day are very tough.
Consider current and future exchange rate forecasts before buying dollars with pounds now. As of February 2024, analysis indicates this is a good time to exchange pounds for dollars. But thorough research remains key for informed investing.
GBP's recovery depends on various factors, including UK economic recovery, changes in global market conditions, and monetary policies. A full recovery might be seen if these factors align positively.
On March 6th, 1972, the pound-to-dollar exchange rate peaked at $2.649. That has been the all-time high value until now. As of February 1, 2024, the GBP/USD rate is 1.266. The lowest rate was $1.054 on February 25th, 1985.