GBP/USD Forecast: Could test trend line resistance on strong UK industrial production figure

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The GBP/USD pair snapped the 6-day winning streak on Tuesday by closing at 1.4211. The spot clocked a daily low of 1.4173 in the NY session and a high of 1.4275 in Europe. Sterling’s decline could be attributed to China-led risk-off in the equities and (dovish) comments from BOE’s Weale, who said rates could be cut or QE could be restarted if required. Meanwhile, Carney’s refused to provide full analysis of Brexit, but did mention a possibility of slide in Pound and rise in (imported)

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