Pound Sterling Forecast for October
Expectations for the pound see a number of different forecasts which may well influence any decision to buy or sell sterling.
The currency markets are not totally predictable. However, by assessing previous behaviour and past performance, it is possible to make predictions.
By looking at upcoming events, we can make some judgment calls on what might happen in the future, based on how the FX markets have responded in the past.
Pound to Euro forecast in October
The summary we would make is that there still remains a bias to the downside for GBPEUR levels. This can be calculated, by looking at the likelihood or not of the pound to Euro rate rising versus falling.
Looking at the forecast data of many different banks, here at Pound Sterling Forecast we can provide some insightful market research to help you make a decision.
On GBPEUR levels over the next three months, there is an average rate predicted of 1.1506 across all the forecasters we surveyed, which is lower than the current 1.1580.
Pound to US Dollar forecast in October
The summary for GBPUSD is a bias to the upside on GBPUSD levels. This indicates there is a greater chance of the pound to US dollar rate rising than falling across the time period surveyed.
The current probability of the GBPUSD being above 1.24 is three month’s time is 38.9%, based on the forecast data we have seen from various banks. This is an example of the type of economic data we can provide to help you make your plans.
As we can see, there is a mixed set of fortunes for the pound with a broad range of possible outcomes on the horizon.
Unfortunate events like what we are seeing in Israel remind of us the inherent uncertainty in the world and the potential for knock-on effects to be felt in the wider economy and financial markets.
If you have a transfer to consider ahead and wish to better understand the latest news and research to help you make an informed decision, please get in touch with me directly.
Jonathan Watson
The post Pound Sterling Forecast for October appeared first on Pound Sterling Forecast.
Source: https://www.poundsterlingforecast.com/2023/10/pound-sterling-forecast-for-october/
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