Forex. GBPUSD trading forecast for today, April 15
On Wednesday, the Pound/Dollar rose to the price value of 1.3740.
USD was under pressure after the US inflation data barely met expectations. In March, the core consumer price index rose 1.6%, significantly less than widely expected. This means that the Fed will not rush to raise rates. Boston Fed Governor Eric Rosengren said a day earlier that the US Central Bank is two years away from discussing a rate hike. At the same time, Rosengren noted that he expects a very strong economy this year with a low unemployment rate.
GBPUSD has slightly rolled back from its February peak, but there are doubts that the quotes will be able to return and continue to grow. The position of the USD looks too confident, and local growth phases, such as the one that happened this week, are unlikely to change the situation globally. The US economy is recovering at a steady pace, and the UK is once again dominated by vaccination-related uncertainty. It is likely that the US Dollar will be in demand and grow in price against the GBP in the medium term. If inflation in the UK continues to increase at a low rate, the Bank of England may announce additional monetary easing, and this will negatively affect the Pound.
GBPUSD Trading Signal
In the forecast, GBPUSD is expected to decline to 1.3670.