March 6, 2024 – Written by David Woodsmith
STORY LINK Pound to Dollar Forecast: GBP/USD Could Extend Gains to 1.2825
The Pound to Dollar (GBP/USD) exchange rate drifted ahead of Tuesday’s New York open and then finally broke above the 1.2700 level after slightly weaker-than-expected US data. GBP/USD posted 1-month highs at 1.2730 and held the gains.
GBP/USD will now need to hold above 1.2700 into and through the major events on Wednesday with the UK budget and congressional testimony from Fed Chair Powell.
Favourable developments…
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