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28.04.2026 05:56 AM
The GBP/USD pair showed similar dynamics to the EUR/USD pair on Monday, but the euro is still in a downward correction, while the British pound is more in a flat trend. The British pound even has a sideways channel – 1.3476-1.3587. Thus, both currency pairs maintain an upward trend, but in both cases, there is currently a pause. In our opinion, unless another global catastrophe occurs in the Middle East, we should not expect the American currency to strengthen anymore. However, this week there will be three central bank meetings, so surprises are possible. A series of important reports will also be published, and geopolitical news of any kind can arrive at any moment. Thus, we believe that the medium-term prospects remain upward, and the dollar can only count on support from super-important news and events. The market continues to ignore most of the macroeconomic data.
On the 5-minute timeframe on Monday, no trading signals were formed. Thus, there were no grounds for beginners to open any positions.
On the hourly timeframe, the GBP/USD pair continues to form an upward trend, but it has been trading in a flat range for the past two weeks. There are still no global reasons for the medium-term growth of the dollar, so we expect a resumption of the global upward trend of 2025 in 2026. Without a serious escalation in the Middle East, the dollar will no longer be able to sustain the growth it has seen over the last two months. Individual events may still provoke their strengthening, but on the whole, the geopolitical factor has taken a back seat.
On Tuesday, beginner traders can open short positions if the price bounces off the 1.3587-1.3598 area or consolidates below 1.3476-1.3489. Consolidation above the area of 1.3587-1.3598, or a bounce from 1.3476-1.3489, will allow new long positions to be opened. However, we would not expect high volatility today.
On the 5-minute timeframe, trading can currently be conducted at 1.3175-1.3180, 1.3259-1.3267, 1.3319-1.3331, 1.3380-1.3386, 1.3476-1.3489, 1.3587-1.3598, 1.3695, and 1.3741-1.3751. Today, there are no important reports or events planned in the UK and the US, so the day is expected to be boring and low-volatility.
Price levels of support and resistance are levels that serve as targets when opening buys or sells. Take Profit levels can be placed around them.
Red lines represent channels or trend lines that show the current trend and indicate the direction in which it is preferable to trade now.
The MACD indicator (14,22,3) – the histogram and the signal line – is a supporting indicator that can also be used as a source of signals.
Important speeches and reports (always included in the news calendar) can significantly affect the movement of the currency pair. Therefore, during their release, trading should be done with utmost caution, or traders should exit the market to avoid sharp price reversals against the previous movement.
Beginning traders in the forex market should remember that not every trade can be profitable. Developing a clear strategy and effective money management are the keys to long-term trading success.
