FX.co ★ Forecast for GBP/USD on April 29, 2021

GBP/USD

At yesterday's Fed meeting, Jerome Powell rejected the risk of impending inflation, and, accordingly, the adjustment of monetary policy even in a change in the emotional attitude towards it, as a result of which world currencies increased the pressure on the dollar. The British pound has risen by 29 points, this morning it attacks the resistance of the MACD line on the daily chart. Consolidation above the line (1.3960) opens the 1.4016 target. It could also rise to 1.4260, if only the record level of six years ago (1.4072) does not interfere.

The price is struggling with the 1.3960 resistance level on the H4 chart. It needs to settle above this level in order to continue rising. The price must settle below the MACD line (1.3895) to return to the downward direction.