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

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Investing

    GBP/USD: August 2015 Forecast

  2. Forex News

    Heavy Event Risk in Jobs Data, Rate Decision Will Confront Summer Trading

  3. Forex News

    US Dollar as ‘Data Dependent’ as the Fed as NFPs Approach

  4. Forex News

    Monetary Policy Speculation Continues Next Week With NFPs, RBA and BoE

  5. Forex News

    GBP Opening Monthly Range Hinges on BoE Vote Count, Inflation Report

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!