GBP/USD under pressure after another round of negative data - FXStreet

By FXstreet.com | Updated August 06, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that the GBP/USD remains under pressure on Wednesday following the release of disappointing UK Industrial Output numbers.



Key quotes



"The hourly chart however, shows indicators bouncing from oversold levels still in negative territory, while 20 SMA presents a mild bearish slope above current price."



"In the 4 hours chart indicators stand flat in neutral territory, while price stands right below an also flat 20 SMA, giving little clues on upcoming direction."



"For the most, the pair maintains a heavy tone, albeit some follow through below 1.6802 recent low is required to confirm a new leg down in the pair."



You May Also Like

Related Forex Analysis
  1. GBP/USD bid within broader bearish trend
    Forex News

    GBP/USD bid within broader bearish trend

  2. US Dollar Faces Tough Test, Japanese Yen Remains Focus
    Forex News

    US Dollar Faces Tough Test, Japanese Yen Remains Focus

  3. The 1.5740 top to contain the upside today for GBP/USD – FXStreet
    Forex News

    The 1.5740 top to contain the upside today for GBP/USD – FXStreet

  4. GBP/USD bounces and hits fresh daily highs
    Forex News

    GBP/USD bounces and hits fresh daily highs

  5. AUD/USD Triangulates on H4; EUR/USD, GBP/USD Holding Range Lows
    Forex News

    AUD/USD Triangulates on H4; EUR/USD, GBP/USD Holding Range Lows

Trading Center