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GBP Trends, News and Forecasts for 2020

 
Forecasts for the British pound change all the time, affected by news events such the Coronavirus pandemic, Brexit negotiations and the relative sentiment towards the UK economy. This continually updated article reviews the latest forecasts from banks and FX experts as well as news and recent movements of GBP in the currency markets.

British pound in the markets

US dollar weakness has helped the embattled pound continue its recovery off June and early July lows. Despite this brief upturn, the outlook remains pessimistic as Brexit uncertainty and questions over the economy’s ability to rebound after the pandemic weigh on the currency.

In late July pound sterling is heading back towards US1.30 due to US dollar weakness. This is a remarkable change of fortunes for GBP which was sold-off after the Brexit vote and again after the virus forced a lockdown in London, the world’s largest foreign-exchange centre. Against the dollar, sterling touched the lowest level in 35 years (below US1.16) in March as traders sought the safety of the USD.

The coronavirus pandemic has replaced Brexit in the headlines and means that the deadline for a trade deal with the Eurozone this year could either be pushed back, delaying a risk for the currency, or see more favorable terms given to the U.K.

The following sections show a summary of bank forecasts for popular GBP cross rates that we have reviewed, where available you can view each article for a more details of the forecasts reviewed.

Read more about FX Broker and Bank analysts’ predictions for GBP to USD future trends in our blog article BER Review of GBP to USD Broker & Bank Forecasts.

 


GBP/USD - 90 day trend
GBP to USD at 1.3068 was trading 3.9% above AVG:1.258 with LO:1.2083 and HI:1.3142 (90 days). There are no current rate alerts.



GBP to AUD Forecasts

NAB have revised upwards their pound sterling forecasts now expecting the GBP/USD rate to be at US$1.47 by June 2022, up from their previous forecast of US$1.39. For 2020, it sees GBP at US$1.36 by year-end, up from a predicted US$1.30.

US dollar weakness has helped the embattled pound continue its recovery off June and early July lows. Despite this brief upturn, the outlook remains pessimistic as Brexit uncertainty and questions over the economy’s ability to rebound after the pandemic weigh on the currency. August Currency Update

Read more about FX Broker and Bank analysts' predictions for GBP to AUD future trends in our blog article GBP to AUD Broker & Bank Forecasts.


 

 
GBP/AUD - 90 day trend
GBP to AUD at 1.8283 was trading near AVG:1.8346 with LO:1.7836 and HI:1.9488 (90 days). There are no current rate alerts.

 



GBP to EUR Forecasts

GBP will rise to 1.20 per euro according to Standard Bank. The coronavirus pandemic means that the deadline for a trade deal this year could either be pushed back, delaying a risk for the currency, or see more favorable terms given to the U.K.

US dollar weakness has helped the embattled British pound continue its recovery off June and early July lows. Despite this brief upturn, the outlook remains pessimistic as Brexit uncertainty and questions over the economy’s ability to rebound after the pandemic weigh on the currency. August Currency Update

Read more about FX Broker and Bank analysts' predictions for GBP to EUR future trends in our blog article GBP to EUR Broker & Bank Forecasts.


 

 
GBP/EUR - 90 day trend
GBP to EUR at 1.106 was trading 0.8% below AVG:1.1144 with LO:1.0939 and HI:1.1498 (90 days). There are no current rate alerts.

 


What is a good GBP exchange rate?

This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate’s current relative value is to look at GBP’s history against a range of currencies and in particular against the currency you are interested in exchanging it with.

For example, the following tables look at the change in the British pound exchange rate to the present day for periods going back 10 years for popular GBP exchange rates.

GBP/USD rateChangePeriod
06 Aug 2020 : 1.31380.6% ▼1 Week
14 Jul 2020 : 1.25703.9% ▲30 Days
15 May 2020 : 1.21067.9% ▲90 Days
14 Aug 2019 : 1.20608.3% ▲1 Year
15 Aug 2015 : 1.564616.5% ▼5 Years
16 Aug 2010 : 1.564316.5% ▼10 Years

GBP/USD 10 year historic rates & change to 13-Aug-2020 : 1.3065


GBP/AUD rateChangePeriod
06 Aug 2020 : 1.81690.5% ▲1 Week
14 Jul 2020 : 1.79881.6% ▲30 Days
15 May 2020 : 1.88723.2% ▼90 Days
14 Aug 2019 : 1.78552.3% ▲1 Year
15 Aug 2015 : 2.120313.8% ▼5 Years
16 Aug 2010 : 1.74694.6% ▲10 Years

GBP/AUD 10 year historic rates & change to 13-Aug-2020 : 1.8268


GBP/EUR rateChangePeriod
06 Aug 2020 : 1.10630% ▼1 Week
14 Jul 2020 : 1.10160.4% ▲30 Days
15 May 2020 : 1.11871.1% ▼90 Days
14 Aug 2019 : 1.08232.2% ▲1 Year
15 Aug 2015 : 1.408321.5% ▼5 Years
16 Aug 2010 : 1.21979.3% ▼10 Years

GBP/EUR 10 year historic rates & change to 13-Aug-2020 : 1.1059


GBP/NZD rateChangePeriod
06 Aug 2020 : 1.96591.5% ▲1 Week
14 Jul 2020 : 1.92083.8% ▲30 Days
15 May 2020 : 2.04012.2% ▼90 Days
14 Aug 2019 : 1.87306.5% ▲1 Year
15 Aug 2015 : 2.392616.6% ▼5 Years
16 Aug 2010 : 2.215810% ▼10 Years

GBP/NZD 10 year historic rates & change to 13-Aug-2020 : 1.9946

 
Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.