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    GBP to USD 2024 Forecasts

    Analysis of recent Sterling → Dollar forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Pound Sterling to US dollar performance and trends.

     

    Forecasts for GBP to USD

     

    Based on recent analyst forecasts and market updates, the GBP to USD exchange rate is currently trading near 7-day highs around 1.2624, remaining within a stable range of 2.4% between 1.2495 and 1.2799. HSBC and Barclays have both signaled a shift in sentiment regarding the Pound, with a more cautious outlook going forward despite initial bullishness earlier in the year. Analysts note that political uncertainty and forthcoming monetary policy decisions from the Bank of England will likely be key drivers of volatility in the GBP exchange rate throughout 2024.

    On the USD side, anticipated interest rate cuts by the Federal Reserve in July are weighing on the US Dollar, leading to its recent decline in value against the Pound. The Fed's decision to hold off on rate cuts in March, following a strong US jobs report, has offered temporary support for the USD. Economists expect the US dollar's strength to potentially reverse course in 2024, with potential interest rate cuts looming, marking a shift from the current trend. Looking ahead, market participants will closely monitor the Fed's policy meeting minutes for further guidance on the future direction of the USD.

     
    @bestfxrates : GBP/USD hovers near 7-day peak of 1.2624, clinging to a tight 2.4% range. HSBC & Barclays eye Pound with caution amidst political ripples & BoE policies. Fed's interest rate stance pivotal for USD's fortunes as market eyes potential July cuts. Eyes peeled for Fed minutes. #Forex $GBPUSD

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    GBP to USD Market Data

    Pound Sterling (GBP) to US dollar (USD) market data - latest interbank mid-rate, trend, chart & historic rates.

     
    1 GBP =
    1.2623We compare provider deals to this wholesale mid-market rate. Read more
    USD
    +0.1%
    📈2W
    GBP to USD is at 14-day highs near 1.2638, just below its 3-month average, having traded in a very stable 2.1% range from 1.2534 to 1.2799
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    Compare & Save - Pound Sterling to US dollar

    Exchange rates can vary significantly between different currency exchange providers, so it's important to compare Pound Sterling (GBP) to US dollar (USD) rates from different sources before making a conversion.

    Use our GBP to USD calculator to see how much you could save on your international money transfers. makes it easy to compare the Total Cost you are being charged on Sterling to Dollar currency rates and the possible savings of using various providers.

     
    DateGBP/USDChangePeriod
    07 Feb 2024
    1.2627
    0.1% 2 Week
    23 Nov 2023
    1.2533
    0.8% 3 Month
    21 Feb 2023
    1.2109
    4.3% 1 Year
    22 Feb 2019
    1.3053
    3.2% 5 Year
    23 Feb 2014
    1.6632
    24% 10 Year
    26 Feb 2004
    1.8614
    32.1% 20 Year
    GBP/USD historic rates & change to 21-Feb-2024
     

    Will the Pound Sterling rise against the US dollar?

    It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

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    Read our Currency guide to the United States - a practical currency and money guide to travel, living and doing business in the United States with the US dollar.

     
     

    Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more