GBP/USD: Doubtful road to rally ahead

GBP/USD has mostly been rising amid a better market mood, stemming from central bank stimulus among other factors but seems to hesitate, Yohay Elam, an analyst at FXStreet, reports.

Key quotes

“The current shuttering is in place until May 7, and Johnson will likely announce the next steps only next week, but speculation and leaks could certainly move the pound.”

“The Fed announced it will expand its municipal bond-buying scheme, adding smaller cities to the program. The world's most powerful central bank announces its rate decision on Wednesday.”

“Various US states are easing restrictions, even though probing for new outbreaks may be lacking. President Trump expressed optimism about robust growth in the fourth quarter.” 

“The Conference Board's Consumer Confidence for April will likely show a considerable fall in sentiment.”