GBP/USD fell to the support of 1.3715
The British currency (GBP) again did not receive support from the easing of restrictions in the country and from successful vaccination campaigns.
In the UK, there is already talk that the third stage of a nationwide quarantine may be the last. This, in particular, was mentioned by the Prime Minister of the country Boris Johnson. The Pound looks confident against the euro and other risky currencies, but is still very weak against the dollar. The quotes are moving to the local minimum since February at 1.3670. Near this mark, we can predict price consolidation, but we can hardly expect a reversal.
Citibank is tactically neutral about the dollar this week amid rising cash flows at the end of the month, quarter and fiscal year, which will inevitably introduce further distortions in price dynamics. And the bank is also celebrating a number of developments, including a new bailout package from President Biden on Thursday and employment data on Friday. Citibank expects a shift towards demand for the US currency, given the broad dynamics of risk. U.S. stock futures and yields are down, and oil prices have lost nearly 2% again. With a very small number of events on the calendar, the currency market is likely to maintain its current dynamics. The dollar will be in demand, unlike risky assets.
In thre forecast, I assume a decline in GBP/USD to the price value 1.3650.