Important events today:

29.04 18:00 UTC: USD – FOMC Interest Rate Decision.

The pair is trading near 1.3515 on Wednesday following Tuesday’s decline and remains under pressure due to caution ahead of the Federal Reserve and Bank of England decisions. The Dollar is supported by high energy prices, risks surrounding the Strait of Hormuz, and expectations that the Fed will not rush to cut rates. For the Pound, political uncertainty in the UK acts as an additional headwind.

The Bank of England is expected to hold the rate at 3.75% on Thursday. Even if one member of the Monetary Policy Committee votes for a rate hike, the overall signal from the regulator may remain cautious: rising energy prices worsen the inflation outlook while simultaneously weighing on economic activity. This balance reduces the likelihood of a strong rally for the Pound.

The pair remains sensitive to Fed statements regarding persistent inflation in the US. If the US regulator confirms its readiness to hold rates at current levels for longer, the yield on Dollar assets may remain attractive, weakening demand for the Pound. Given the Sterling’s weak momentum and ongoing external risks, the preferred scenario for GBP/USD remains a decline.

Recommendations: SELL 1.3515, SL 1.3545,