Forex forecast for today. GBP/USD reached an important resistance
Pound/Ddollar reached an important resistance of 1.3900.
The main reason for the pair's growth was the local vulnerability of the USD, despite strong data from the labor market and business activity in the US manufacturing sector. The move may also be linked to British Prime Minister Boris Johnson's announcement of a second phase of easing isolation restrictions. This will allow the opening of some small businesses from April 12, as well as the resumption of trips abroad.
However, the combination of factors will continue to support the US Dollar and restrain the further growth of GBP/USD. Investors remain optimistic about the prospects for a relatively faster recovery in the US economy after the pandemic, helped by the planned stimulus of more than $2 trillion by the administration of President Joe Biden.
Meanwhile, the upbeat US economic outlook is fueling fears of rising inflation in the country and raising doubts that the Fed will maintain ultra-low interest rates for a longer period. This, in turn, led to the fact that the yield on 10-year US government bonds again exceeded the threshold of 1.7%, which should further strengthen the Dollar.
In the forecast, I expect further growth of GBP/USD to the price value 1.3975.