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

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD Technical Analysis: Digestion Below 1.53 Continues

  2. Forex News

    GBP: Fed volatility within 50 pip range, scores ground on 1.52 handle

  3. Forex News

    Carney speaking; GBP technically mixed - Scotiabank

  4. Forex News

    GBP/USD extiende descenso a mínimos del día en 1.5155

  5. Forex News

    GBP/USD extends decline to daily lows around 1.5155

Trading Center