Fundamental Market Analysis for April 30, 2026 GBPUSDBritish Pound/US DollarSAXO:GBPUSDFresh-Forexcast2004GBP/USD is trading under pressure around 1.34800–1.34900 after the Fed decided to keep rates unchanged and maintain a cautious approach to further steps. The dollar is supported by concerns that rising oil and energy prices may keep inflation above target levels for longer than expected. For the pound, this means a more challenging external environment, as investors prefer the dollar during periods of firm signals from central banks. The British currency also depends on the Bank of England meeting. The market expects the rate to remain unchanged, but attention will focus on the assessment of inflation, the impact of expensive energy, and consumer demand prospects. The Bank of England survey showed an increase in companies’ inflation expectations, which reduces the likelihood of a near-term policy easing, while also increasing risks for the UK economy. The pound remains among the relatively resilient currencies in April, but the dollar’s current momentum after the Fed decision limits GBP/USD recovery potential. Another pressure factor is caution ahead of the release of US GDP data and the PCE inflation indicator. If demand for the dollar persists, the pair may continue to decline, so selling from nearby levels is preferable. Trading recommendation: SELL 1.34850, SL 1.35050, TP 1.33950