OctaFX | OctaFX Forex Broker
Sign in
Open account
Back

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

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."

Ukraine woes rise again spooking markets

Investor sentiment has been dropping this week, as reports of Russia building up forces close to Ukraine's border renewed concerns about a possible invasion.
Read more Previous

EUR/GBP edges higher but lacks momentum

The EUR/GBP edged a tad higher following the UK GDP estimation release, but remained well within today’s range and off the highs scored earlier during the European session.
Read more Next
Start livechat